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Lord Conrad Black’s last-ditch attempt to block the £729 million sale of the Daily and Sunday Telegraph to the Barclay brothers has failed after a Delaware judge rejected the media tycoon’s eleventh-hour appeals. The ruling should clear the way for the Barclay brothers to succeed in their long-held ambition of taking control of Britain’s best… Continue reading Black Fails To Scupper £729 Million Sale Of Telegraph Titles

Trinity Mirror said this morning that the ‘media storm’ surrounding the publication of fake photographs of Iraqis being abused by UK soldiers was the reason circulation at its flagship newspaper the Daily Mirror fell by 5.3% year-on-year. Sly Bailey, chief executive, said that despite the disappointing circulation performance during the period in May, there have… Continue reading Strong Revenue Performance From Trinity Mirror Despite Mirror Fiasco

Interim results released from Telewest Communications today show that the group’s financial restructuring plans are beginning to bear fruit as operating income rose to £39 million for the first half of 2004, up from £5 million on the same period last year. The group said that growth in both customers and revenues, coupled with reduced… Continue reading Customer And Revenue Growth Driving Profits At Telewest

GWR, owner of Classic FM, has today announced that the first half of this year has got off to a strong start as second quarter analogue revenues, which account for 92% of the group’s total income, jumped by 5% year-on-year. Speaking at the annual general meeting (AGM), chairman Ralph Bernard said that from the three… Continue reading Trading At GWR ‘Remains Encouraging’

United Business Media has today announced that operating profit was up nearly 52%, pushed on by a significant turnaround from its technology and health care division, CMP Media. In a statement announced this morning UBM said for the six months ending 30 June 2004 that most of its businesses performed strongly, driving pre-tax operating profit… Continue reading Profits At United Business Media Jump 52%

Havas, the French advertising group, has said it is interested in bidding for American rivals, Grey Global Group, starting with an offer of over $1 billion (£550 million). Chairman and chief executive officer of Havas, Alain de Pouzilhac, told French newspaper Le Figaro that he was interested in buying Grey and had secured financial backing.… Continue reading Havas Chairman Confirms Interest In Bidding For Grey

Outdoor advertising giant JCDecaux announced this morning that revenues for the first half of this year grew by 4.5% to â‚Ź792.3 million, spurred on by the European advertising recovery in quarter two. For the six month period ending 30 June 2004, the street furniture division performed strongly, growing by 5.5% year-on-year to over â‚Ź430 million.… Continue reading European Ad Recovery Spurs JCDecaux Revenue

Venture capital groups are limbering up to bid for the BBC’s commercial operations if the sale is given the green light by the Corporation’s chief executive, Mark Thompson. According to reports over the weekend, Rupert Gavin, who quit this month as chief executive of BBC Worldwide and Roger Flynn former chief executive of BBC Ventures,… Continue reading Buyers Prepare To Snap Up BBC Commercial Arms

ITV, the UK’s largest commercial broadcaster, may be forced to knock £360 million off the value of its assets following a devaluation of regional operator Carlton, according to reports over the weekend. ITV was formed in its present state by a merger between Carlton and Granada last year, although a report by the Financial Mail… Continue reading Carlton Devaluation Hits ITV Assets Hard

International media group, Pearson, today announced that improved market conditions was the driver behind profits for the first half of this year exceeding expectations to grow by 47%. Pre-tax profits for the six months to 30th June reached £2 million, up from a loss of £1 million for the same period last year, however erratic… Continue reading Profits Up At Pearson As Market Conditions Improve