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SMG is believed to be delaying the floatation of Virgin Radio following the departure of chief executive Paul Jackson to GCap Media. Richard Huntingford, Virgin’s new chairman, said that an initial public offer could not go ahead without a chief executive. SMG hopes to raise around £85 million from the initial public offering, to reduce… Continue reading SMG Could Delay Virgin Radio Floatation

SMG is selling Primesight, its outdoor advertising division, for up to £62 million to a private equity firm. In a statement released today, SMG said that the GMT Communications Partners deal represents a clear uplift on previous offers. Rob Woodward, chief executive of SMG, said: “This is a good price for the business and clearly… Continue reading SMG Confirms Primesight Sale

UTV, the multimedia group which broadcasts radio and television, has announced that its operating profit, before exceptional items, was up 4% at £13 million for the six months to June 30. The group’s radio operating profit was up by 7% to £6.8 million (2006: £6.4 million) after deducting start-up losses of £1.3 million (2006: £1.4… Continue reading UTV Announces Increase In Operating Profit

Emap has released a statement announcing that it has received interest for all parts of the group, having previously announced a review that could see the company broken up. The strategic review of its £2 billion radio, business-to-business and consumer magazine operation was announced in July, with today’s statement saying that the board is preparing… Continue reading Emap Confirms Sale Interest

Johnston Press has announced a 4.8% decline in profits in the half year to June 30. The regional newspaper group, which publishes titles including the Yorkshire Post and the Scotsman, said that its operating profit fell to £96.7 million, whilst revenue was up 0.1% at £312.8 million. Revenue from UK newspaper sales increased by 0.5%,… Continue reading Johnston Press Profits Decline

RTL has announced that its total earnings before ebita rose 7.7% year on year to €515 million (£256.3 million). The group’s revenue was up 1.3% to €2.89 billion (£1.44 billion). These figures included an €123 million (£61 million) impairment on the carrying value of Five due to “strong competition and the increasing fragmentation of the… Continue reading RTL Earnings Rise 7.7%

Mondadori, the Italian magazine publisher controlled by Silvio Berlusconi, has expressed interest in buying Emap’s £700 million consumer magazine division, according to a report. A report in today’s Times says that the Italian group, along with French company Lagardère, whose British operations are run by former Emap chief executive Kevin Hand, has asked for a… Continue reading Berlusconi Company Could Bid For Emap Magazine Division

Vincent Bolloré, chairman of Havas, has increased his stake in Aegis, the UK media buying group, to almost 30%. Bolloré Group, Bolloré’s holding company, has increased its holding in Aegis from 29.15% to 29.86%, almost reaching the threshold where it would have to make a bid for the company. So far, Bolloré has made four… Continue reading Bolloré Increases Aegis Stake

Commercial radio revenue figures for the second quarter of 2007 have grown to over £85 million, according to RadioCentre, the industry body for UK commercial radio. In a statement released today, RadioCentre said local revenue for the quarter grew year on year by 1.2% to over 40 million and sponsorship & promotions revenue dipped slightly… Continue reading Growth For Commercial Radio Revenues

Steve Burch, Virgin Media chief executive, is to leave the company with immediate effect, citing family and personal reasons. Neil Berkett, Virgin Media’s chief operating officer is to take on the chief executive responsibilities for the time being, with the company saying that it intends to start a search for a replacement shortly. Burch, who… Continue reading Steve Burch Steps Down As Virgin Media CEO