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Two months after secretary of state Alastair Darling issued a special intervention notice regarding BSkyB’s purchase of a 17.9% stake in ITV, Ofcom and the Office of Fair Trading will today hand reports on the purchase to the Department of Trade and Industry. Darling initiated the review to ascertain whether the Sky purchase raises “public… Continue reading Sky ITV Shares Investigation Goes To DTI

Pearson has announced that it expects double digit profits at the Financial Times this year owing to new cost measures, integration actions and revenue diversification. In a trading update released today, Pearson said that it is trading in line with expectations for 2007 and expects to achieve good underlying earnings growth, cash conversion ahead of… Continue reading Pearson Predicts Double Digit Profits For FT

XM Satellite Radio Holdings Inc. released their Q1 results today, announcing a 27% year on year revenue increase to 264 million. The company reached more than 7.9 million subscribers during the first quarter 2007 compared to 6.5 million subscribers in the prior year period, and recently announced that it had now passed the eight million… Continue reading XM Satellite Radio Subscribers Hit 8 Million

BT has announced a major restructure which it says will lead to significant cost savings, to be outlined in next month’s financial results. The restructure will see BT’s network design and operations split into two separate business units called BT Design and BT Operate and they will be headed by Andy Green, head of BT’s… Continue reading BT Restructure Will Lead To Cost Savings

Popular television game show Deal Or No Deal is now Endemol’s top format in terms of turnover, taking over from Big Brother, according to the company’s latest trading statement. The company enjoyed a solid first quarter performance in 2007, with the quiz programme rating highly in the UK, Italy and the US, and revenue largely… Continue reading Deal Or No Deal Becomes Endemol’s Top Format

Johnston Press has successfully completed the acquisition of Archant’s Scottish newspaper division for £11.2 million. The purchase was subject to regulatory clearance from the Office of Fair Trading and Johnston Press said today that all the necessary conditions have been satisfied. The purchase was first announced in January, with Tom Bowdler, CEO of Johnston Press,… Continue reading Johnston Press Completes Purchase Of Archant’s Scottish Titles

Hitwise has been purchased for $240 million by credit checking company, Experian Group Ltd. Hitwise is a leading marketing intelligence provider which tracks internet usage and reports on almost a million websites a day. Experian wants to shift its emphasis towards the internet following the purchase. Don Robert, Experian’s chief executive, said: “We have been… Continue reading Experian Purchases Information Company Hitwise

Response to Chrysalis’ auction of its radio operations has not reached the demand levels anticipated, according to reports in today’s Financial Times. Bids were expected from UTV as well as several private equity firms, however these have not materialised, while Guardian Media Group ruled themselves out from the bidding last month. Chrysalis had hoped the… Continue reading Little Interest In Chrysalis Auction

Google’s net profits for the first quarter of 2007 were $1 billion (£500 million), a 69% increase on the same period last year. Its revenue was up 63% to $3.6 billion (£1.8 billion) for Q1, including traffic acquisition costs of $1.1 billion, or 31% of advertising revenues. Revenues from the UK totaled $578 million, representing… Continue reading Google Records Strong Profits Increase

WPP reported a 0.7% decline in revenues to £1.3 billion in the first quarter of the year, with the UK the group’s slowest growing region. However, UK revenues were up by over 2%, which WPP said reflected the significance of market research revenues. Much of the blame for the decline in WPP’s revenues rests with… Continue reading Revenues Decline For WPP