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Omnicom Group has announced its net income for the second quarter of 2007 increased 13.4% to $276.7 million from $244.1 million in the second quarter of 2006. Omnicom, owner of media and advertising agencies including OMD, PHD and TBWA, said that worldwide revenue increased 10.7% to $3,126.1 million from $2,823.4 million in the second quarter… Continue reading Omnicom Announces Revenue Increase

Channel 4 is to pay £28 million for 50% of Emap’s music television business Box Television Ltd. Emap said that the joint venture will look to exploit new and emerging digital growth opportunities beyond traditional broadcast revenue streams. Emap’s music TV business currently comprises seven TV channels: The Hits, The Box, Smash Hits, Kerrang!, Q,… Continue reading Channel 4 To Buy 50% Of Emap’s Music TV Business

Virgin Media has reportedly started a bidding auction which could see it sold for £11 billion. A report in the Times says that Virgin Media’s executive chairman, Jim Mooney, has given a series of presentations to potential bidders. According to the report, so far 11 parties have shown interest in buying the company, including the… Continue reading Auction Begins For Virgin Media

Google has announced its Q2 results, reporting revenues of $3.87 billion for the quarter ended June 30, 2007, an increase of 58% compared to the second quarter of 2006 and an increase of 6% compared to the first quarter of 2007. Google-owned sites generated revenues of $2.49 billion, or 64% of total revenues, in the… Continue reading Google Announces Q2 Results

Trinity Mirror has agreed to sell 14 Berkshire newspapers for £10 million as part of its ongoing disposal programme. The company is selling Berkshire Regional Newspapers to Berkshire Media Group, a subsidiary of Scottish group Dumfermline Press. Earlier this month, Trinity Mirror sold 25 titles in Surrey, Sussex, Kent and Dorset to Northcliffe Media, the… Continue reading Trinity Mirror Sells Berkshire Papers

The Dow Jones board last night voted to sell the company to Rupert Murdoch’s News Corporation for $5 billion (£2.5 billion). The deal is now awaiting the approval of the Bancroft family, which controls 64% of Dow Jones’ voting stock. A report in the Wall Street Journal said that a ‘strong majority’ of the board… Continue reading Dow Jones Board Votes To Sell

Yahoo!’s net income for the three months ending June 30 was $161 million (£78 million) compared with $164 million (£80 million) in the same period last year. Marketing services revenues were $1.4 million for the second quarter of 2007, a 7% increase compared to $1,386 million for the same period of 2006. Yahoo!’s forecast for… Continue reading Yahoo!’s Net Income Declines

Associated Newspapers, the owner of the Daily Mail, is initiating a review which could see it sell the classified ad paper Loot. Associated Newspapers said that it has received several unsolicited enquiries from interested third parties regarding Loot. The group today announced the sale of Loot’s Irish counterpart, Buy and Sell, to Naldin Limited for… Continue reading Associated Newspapers Could Sell Loot

News Corp has apparently reached a tentative agreement for the purchase of Dow Jones for $5 billion (£2.5 billion). According to a report in the Wall Street Journal, owned by Dow Jones, the deal will be put to the full Dow Jones board for approval this evening. The WSJ said that yesterday negotiators from News… Continue reading News Corp Reaches Tentative Dow Jones Agreement

Emap has agreed to sell its Republic of Ireland radio stations to the Irish and European radio group Communicorp Group for around £135 million. The sale is conditional upon obtaining certain necessary regulatory clearances which Emap expects to be obtained in the second half of its financial year.The stations, comprising Today FM, FM104 and Highland… Continue reading Emap Agrees Sale Of Irish Stations