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UTV has announced that operating profits for 2006 were broadly flat at £24.8 million. The group said that increased profits from its continuing radio operations were offset by reduced revenue in its television division and start-up losses at its new radio stations in Edinburgh and Belfast. In the first six months of the current year,… Continue reading UTV Reports £24.8 Million Operating Profit

A new report from Verdict Research reveals the fastest rate of growth in the online retail sector since the busting of the dotcom bubble in 2001. Verdict says that in 2006 online retail spending in the UK grew by 33.4%, to a record £10.9 billion, almost 13 times faster than the retail sector overall. It… Continue reading Online Sales In The UK To Almost Triple Over The Next Five Years

The merger between satellite radio companies Sirius and XM might not occur, after Sirius CEO Mel Karmazin said to shareholders that regulators are unlikely to approve it. On Wednesday, senate subcommittee on antitrust, competition policy and consumer rights chairman Herb Kohl (D-WI), concluded that satellite radio was its own market and a merger to consolidate… Continue reading XM And Sirius Merger “Unlikely”

Daily Mail & General Trust (DMGT) has reported a 24% increase in profits over the six months to April 1. DMGT said that its first half performance reflects continued good growth from its business to business operations, supplemented by acquisitions. The group made an adjusted profit before tax of £135 million for the six months… Continue reading DMGT Records Profits Increase

Emap has announced that pre-tax profits have fallen 13% for the year ending March 31, to £193 million. The company’s underlying revenues were also down, by 1% to just over £1bn in the year to the end of March. Revenues at the company’s digital division increased by 32%, whilst overall (continuing) group revenues rising 4%… Continue reading Emap Sees Pre-Tax Profits Fall

Yahoo! is understood to be weighing up a $1 billion (£500 million) bid for the social networking site Bebo. The potential purchase comes after it bid for Facebook last year, with discussions on that occasion ending with Facebook rejecting Yahoo!’s advances (see Facebook Rejected Yahoo! Bids). Bebo is the UK’s most popular social-networking site and… Continue reading Yahoo! Could Buy Bebo

Virgin Media could be subject to a £7.5 billion bid from a private equity consortium headed by US group Providence Equity Partners. A report in the Observer says that Providence Equity Partners is considering taking advantage of Virgin Media’s share price of £24. Last summer, Providence Equity Partners held talks with the cable group over… Continue reading Consortium Could Bid For Virgin Media

WPP has purchased digital marketing firm 24/7 Real Media for $649 million (£329 million) in a move intended to strengthen its position in the digital market sector. The deal follows Google’s acquisition of Doubleclick for $3.1 billion (see Google Acquires Doubleclick For £3.1 Billion) and Publicis Groupe’s purchase of the US digital marketing company Digitas… Continue reading WPP Acquires 24/7 Real Media

Microsoft has bought global digital marketing company aQuantive in a deal worth $6 billion (£3.04 billion). The deal, following on from Google’s acquisition of DoubleClick (see Google Acquires Doubleclick For £3.1 Billion) and WPP’s purchase of 24/7 Real Media (see WPP Acquires 24/7 Real Media), is part of Microsoft’s attempt to build its own global… Continue reading Microsoft Buys aQuantive For $6 Billion

Dawn Airey is believed to be in advanced negotiations with ITV about taking on a senior management role at the commercial broadcaster. ITV executive chairman, Michael Grade, has apparently been in discussions with Airey about a new job which would include overseeing the company’s UK and international production business. The Guardian quoted a source as… Continue reading Airey Could Join ITV