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SMG is to stop the sale of Virgin Radio after bids failed to match the £80 million asking price, allowing it to focus on floating Virgin on the stock market next spring. A report in the Sunday Telegraph said that offers for Virgin were received from Global Radio and Vitruvian Partners, a private equity firm.… Continue reading SMG To Call Off Virgin Radio Sale

ITV has unveiled a new five year “self-help” plan to grow its business, focusing on content and online. ITV said that in its content business its objective is to double content revenues, including internal productions to around £1.2 billion by 2012. It will invest approximately £1 billion across its channels this year and has set… Continue reading ITV Unveils Five Year Growth Plan

Emap has sold its Australian magazines business to ACP Magazines for £38 million as it continues with the break-up of its business. Following the sale, Emap will continue to benefit from licence revenues from the Australian editions of ZOO, FHM, Empire, Mother & Baby and Pregnancy & Birth. In the year to 31 March 2007,… Continue reading Emap Sells Australian Magazine Business

JCDecaux has announced its results for the first half of the year, showing a pre-tax profit of €162.7 million (£110.8 million), down 0.3% from €163.2 million the previous year. The company’s revenues for the first half of 2007 totalled €1,019 million, up 7.7% from 2006. The outdoor giant said that this growth reflected improvement across… Continue reading JCDecaux Reports First Half Profit Of £110.8m

Publicis Groupe has acquired the French digital agency Wcube for an undisclosed sum, saying that Wcube will be rebranded and integrated into the Publicis Modem worldwide digital network. Wcube will become Publicis Modem France, headed by Wcube’s present co-presidents Xavier Gury and Thierry Vandewalle, who will report to Philippe Lentschener, chief executive officer of Publicis… Continue reading Publicis Acquires French Digital Agency

Emap is considering loaning money to potential bidders for its three divisions, as it attempts to ensure its break up auction goes ahead despite the volatility in the credit markets. According to reports, the move would see successful bids funded by Emap, which is said to be in discussion with several banks to gauge their… Continue reading Emap Could Offer Loans To Bidders

WPP has acquired Schematic, the US design, development and technology company behind the recent revamp of ITV.com. Schematic is based in Los Angeles, with offices in New York, Boston, Atlanta and San José, Costa Rica, and employs 255 people. In a statement, WPP said: “Founded in 1999, Schematic’s expertise extends to all digital platforms, including… Continue reading WPP Acquires US Digital Agency

The latest estimate from the National Institute of Economic and Social Research (NIESR) suggests that the growth rate of the UK economy slowed slightly in the three months ending in August to 0.7% after 0.8% in the quarter ending in July. The NIESR expects to see a further slight deceleration in the rest of this… Continue reading UK Economic Growth Rate Slows Slightly

Yahoo! has acquired BlueLithium, the online global ad network, for approximately $300 million in cash. According to comScore Media Metrix, BlueLithium is the fifth largest ad network in the US and second largest in the UK with 145 million unique visitors each month. Jerry Yang, chief executive officer, Yahoo!, said: “BlueLithium’s products, technology and team… Continue reading Yahoo! Buys Online Ad Network

Aegis Group has reported a first-half pre-tax profit of £41.3 million, up 8.7% from £38 million a year earlier. The group also reported organic revenue growth of 9.6%, whilst its revenue was up 7.7% to £499 million. Aegis Media and its market research company Synovate both delivered revenue growth ahead of their markets, at 9.8%… Continue reading Aegis First-Half Profits Up