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ITV has rejected the second bid by Greg Dyke’s investment consortium, stating that the offer does not represent a good deal for current share holders. The revised bid was submitted to the ITV board last night, but met with unanimous rejection as the broadcaster’s management stated: “At over 7 times 2005 EBITDA, the board considered… Continue reading ITV Rejects Second Bid By Dyke Consortium

French entrepreneur and Havas chief executive, Vincent Bollore, has re-ignited speculation over his intentions toward British advertising group, Aegis. Speaking at a press conference the advertising boss, and chairman of Groupe Bollore, stated that “all options are open. We could strengthen our stake in Aegis,” hinting at an increase of his existing 25.5% share in… Continue reading Bollore Hints At Further Investment In Aegis

Reports this morning suggest the financial consortium of Greg Dyke, Apax Partners, Blackstone and Goldman Sachs, which last week bid for control of ITV, would seek a merger with Five should they gain control of the broadcaster. According to a report in today’s Daily Telegraph, the proposed merger would take the shape of an invitation… Continue reading ITV Bid Consortium Plans Merger With Five

Emap has announced that it is trading in line with full-expectations, outperforming the market in the group’s consumer magazines and radio division, with its business to business division expected to deliver strong underlying growth. The publishing body expects full-year revenues to rise by 8%, helped by a 5% increase in underlying revenues from UK consumer… Continue reading Emap Outperforms Consumer Magazine and Radio Market

Independent News & Media PLC (INM) has bought the entire issued share capital of PropertyNews.com, along with the PropertyNews monthly newspaper, covering Northern Ireland and neighbouring countries in the Republic of Ireland. The acquisition of PropertyNews.com is part of INM’s strategy of becoming the number one classified website in every market in which it operates,… Continue reading Independent News & Media PLC Extends Reach In Property Field

Chrysalis has revealed its expectations for the first fiscal half, claiming that it should meet targets thanks to an “encouraging” period of trading for its flagship station, Heart 106.2. In a statement to the City, Chrysalis described a “challenging” market for radio advertising, but remains confident that it has “comfortably outperformed the market.” The broadcaster… Continue reading Chrysalis On Line To Meet Targets

United Business Media (UBM) has expanded its events business in China with the joint acquisition of a majority stake in the Guangzho Beauty Fair. The deal is being made with UBM’s CMP Asia division and its venture partner for Asian beauty events, BolognaFiere Group. The two companies are planning to launch a new event, Cosmoprof… Continue reading UBM Expands Events Business In China

Daily Mail and General Trust (DMGT) has announced the sale of Aberdeen Journals Limited to Scottish publisher, D.C Thomson for £105 million. Following the deal, D.C Thomson, will pay £27 million into DMGT’s pension scheme, with the payment giving Aberdeen Journals an enterprise value of £132 million. Aberdeen Journals reported operating profit of £8.1 million… Continue reading DMGT Sells Aberdeen Journals

GCap Media has announced that revenues for the first quarter of the year will be down by 17% year on year, citing the “short term” impact of its recent decision to reduce the number of adverts on Capital Radio, as well as a weak advertising market in general. Issuing a trading update for the twelve… Continue reading GCap Q1 Revenues Down By 17%

Radio firm GCap Media has withdrawn from its plans to sell nine analogue stations in the South West and North Wales, claiming that the approaches it has received do not meet the best interests of investors. The proposed sales, made as part of the broadcaster’s strategy review in November 2005, were designed to leave the… Continue reading GCap Backs Down From Station Sale