More Media Business articles

Virgin Media has reported a pre-tax profit of £315.3 million, although it lost 70,300 subscribers in the quarter. Operating income for the three months to the end of June was £3 million, compared with an operating loss of £15.3 million in the first quarter. The company reported a net loss of £119 million, which was… Continue reading Virgin Media Reports Pre-Tax Profit Of £315.3m

Interpublic Group recorded profits of $137 million (£67.8 million) for the second quarter of 2007. The group’s revenue was $1.65 billion in the second quarter, whilst first-half revenue was $3.01 billion. Organic revenue increased 6.6% compared to the second quarter of 2006, due to higher revenue from existing clients and net client wins. For the… Continue reading Interpublic Profits Almost Double

Guardian Media Group is believed to be in discussions with private equity firm Apax Partners about launching a £2 billion joint bid for Emap. Talks between the two companies are at an early stage and that no formal agreement has been made, according to a report in today’s Daily Telegraph. According to the report, GMG… Continue reading GMG And Apax In Possible Joint Bid For Emap

Virgin Media has extended its deadline for receiving formal takeover proposals following a recommendation from its financial advisers “to enhance shareholder value”. Virgin Media said in a statement that it had “extend the process until these parties can complete their proposals in a more stable debt market environment”. It added: “As a consequence of this… Continue reading Virgin Media Extends Bid Deadline

Archant, the regional newspaper group, has announced that its overall revenue in the 26 weeks to the end of June was up 2.1% at £98.5 million (2006: £96.4 million). The group reported a 64.6% rise in pre-tax profits, owing in part to a £3.8 million profit it made in April when it sold its Scottish… Continue reading Archant Revenue Up 2.1%

Radio company UBC Media has recorded a 19.8% year on year increase in revenues for the first quarter to the end of June. UBC said that a 30% year on year increase in revenues from radio advertising as underlying its strong performance. Chairman John Hodson said that UBC had made an “encouraging start to the… Continue reading UBC Media Records 19.8% Revenue Increase

US online consumer spending was up 23% year on year in the second quarter of 2007, according to new figures from comScore. The biggest gains were enjoyed by sales of consoles and video games, up by 159% year on year, with sports and fitness (58%), consumer electronics (51%) and event tickets (44%) also experiencing year… Continue reading US Online Consumer Spending Increases

Trinity Mirror has announced that its operating profit for the 26 weeks ending July 1 increased by 5.9%, reflecting the benefit of a more stable advertising environment and tight cost management. Revenue was broadly flat for the period, reflecting improving market conditions, with underlying digital revenues growing by 23.7%. However, the group said that expectations… Continue reading Trinity Mirror Operating Profit Up

Dow Jones has agreed to a takeover by News Corporation in a deal worth approximately $5.6 billion (£2.8 billion). About 37% of the Bancroft family, who control 64% of Dow Jones voting stock, agreed to the News Corp offer of $60 per share. Murdoch, chairman and CEO of News Corp, said: “I am deeply gratified… Continue reading Dow Jones Agrees Sale

Guardian Media Group (GMG) has published its annual report, showing that its turnover from continuing operations increased to £716.1 million for the financial year ending April 1 2007, up from £700.3 million the previous year. GMG, which owns the Guardian, Observer and Manchester Evening News and the Smooth Radio network, added that Profit before taxation… Continue reading GMG Reports Profits Increase