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The US satellite radio company XM saw its revenue for 2006 increase 67% year on year to $933 million. The company also added 1.6 million new net subscribers in 2006 for a total of 7.6 million subscribers. Hugh Panero, XM CEO, said: “2006 was a pivotal year for XM. The automobile market is emerging as… Continue reading XM Radio Records Revenue Increase

The Financial Times and its website recorded a £9 million increase in profits last year to £11 million, according to parent company Pearson’s preliminary full year results. FT advertising revenues were up 9% with rapid growth in online, luxury goods and corporate finance categories, all up more than 30%. The FT and its website also… Continue reading FT Records £9 Million Increase In Profits

Sky’s operating profits could be reduced by £15 to £20 million if the satellite broadcaster cannot reach a deal with Virgin Media over its basic channel package. This figure includes the four months between now and the end of Sky’s financial year on June 30. It was reported on Friday that Sky was to remove… Continue reading Sky’s Profits Could Be Hit By Virgin Channel Row

Worldwide advertising and marketing services spending is set to rise by at least 4% this year, according to advertising giant WPP. It said that worldwide economic conditions seem set to continue to show steady growth in 2007, although concerns remain over the Middle East, oil and commodity prices and the twin deficits of the US… Continue reading Global Advertising Spend To Rise This Year

WPP’s pre-tax profits rose by 14.5% to £766.3 billion in 2006, with the company reporting total revenues of £5.9 billion for the year, up 10%. WPP’s like-for-like revenue growth was up by 7.2% in the fourth quarter of 2006. In a statement, the group said: “The group’s financial performance in the year more than mirrored… Continue reading WPP Records Profits Rise

The increasing power of digital media and the new ways in which consumers use the media to communicate are central to the future of the industry, according to Sir Martin Sorrell, CEO of WPP. Sorrell, speaking to LBC’s Nick Ferrari at a Chrysalis event, said that a significant shift is taking place which will see… Continue reading Sorrell: New Media Central To Future Of Industry

De Agostini, the Italian publisher, is understood to be preparing a bid for Endemol, the producer of Big Brother. It is believed that De Agostini has hired US bank Citigroup to examine the possibility of making a bid for the 75% stake which Telefonica could be putting up for sale (see Telefonica Board Meets To… Continue reading De Agostini Could Make Endemol Bid

BBC Worldwide’s TV sales are set to reach around £190 million for this financial year due to strong growth in traditional programme sales and an increasing number of deals with digital media platforms. This figure is up from last year’s £171 million and was announced by BBC Worldwide prior to the BBC Showcase event being… Continue reading BBC Worldwide’s TV Sales Grow

The US companies Sirius Satellite Radio and XM Satellite Radio have agreed a merger, which will create a company valued at $13 billion. The deal will see Sirius acquire XM in a $4.6 billion deal, although the merger could face problems. It is believed that US terrestrial radio companies are likely to make objections and… Continue reading US Satellite Radio Companies To Merge

Tiscali’s revenues for 2006 stood at €678.5 million, up 28% year on year, which Tiscali says is broadly in line with its business plan. As of 31st December 2006, Tiscali had around 3,5 million active users, of which 1,9 million were broadband customers (up 50% compared to 2005), in line with the targets of the… Continue reading Tiscali Revenues Grow