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Telewest today announced that 51,000 internet and 12,000 household subscribers were added during quarter one, helping to reduce the group net loss to £36 million from £187 million on the same period last year. Acting Chief Executive, Barry Elson, said: “Today’s results reflect a good first quarter. Broadband growth, successful marketing and the value of… Continue reading Telewest Debts Reduce As Subscriber Figures Grow

Telecoms giant, British Telecom, today announced that it is slashing the current broadband access price for rival broadband providers by 70%. The price cuts are for the local loop unbundling (LLU) products – the last mile of cooper wire connections linking households to telephone exchanges, which are used by rivals such as Telewest, to provide… Continue reading BT Set To Slash Broadband Price

Commercial radio group GWR has announced the sale of its stake in Radio Investments (RIL) to a new company headed by former Jazz FM chief executive, Richard Wheatly, for a total of £10.6 million. The disposal of the 27.8% stake is due for completion later this month once Wheatly’s fledgling Local Radio Company has completed… Continue reading GWR Off-Loads Radio Investments For £10.6 Million

As BSkyB today announced that operating profit hit record levels, growing 76% during the third quarter, it was confirmed that the FA Premier League games would not be sub-licensed as all of the bids received by the group, failed to meet the reserve price tag. Operating profit for the three months ending 31st March 2004,… Continue reading Sky Turns Down Premier Bids As Profits Soar

Former Jazz FM chief executive, Richard Wheatly, is returning to commercial radio at the helm of the Local Radio Company, which looks set to acquire Radio Investments for around £40 million later this week. The Local Radio Company is thought to be on the brink of announcing details of the acquisition, which will see it… Continue reading Former Jazz FM Boss To Front Radio Investments Buy-Out

US outdoor advertising company, Lamar, announced that revenues for the first quarter are up 9.1% on the same period last year, to $201 million. Operating income, for the quarter ending 31st March 2004, rose from $2.3 million in quarter one last year, to £13.4 million. Commenting on the Lamar results, Merrill Lynch said: “Quarter one… Continue reading Merill Lynch More Bullish After Lamar Results

ITV has announced plans to acquire SMG’s stake in GMTV for £31 million and is to bid for the remaining 25% of the breakfast broadcasting network, which is owned by Walt Disney Company. The proposed buy-out is part of a wide-ranging deal that will also see ITV take-over the sale of SMG’s national television airtime… Continue reading ITV To Acquire SMG’s Stake In GMTV For £31 Million

Record producer and radio broadcaster, Chrysalis, today announced that they are on track to deliver strong earnings growth over the next few years as operating profit for the last six months has trebled to £3.7 million. Radio revenues for the period ending 29th February, were up by 23% to £33.3 million; growth continued in March… Continue reading Chrysalis Profits Treble For Past Six Months

Global holdings company, Interpublic, today announced that first quarter revenues are up 6% to $1.4 billion, increasing for the fourth consecutive period, but profit is still at a loss. Due to costs associated with the company’s restructuring plan, first quarter net loss was $16.9 million. However, overall the company has seen improvements to its financial… Continue reading Interpublic Revenues Up For 4th Quarter Running

Sir Martin Sorrell’s global advertising heavyweight WPP has announced the launch of its third-string media network, Maxus Global, in the Asia-Pacific region. The new company is intended to resolve several of WPP’s current conflict assignments and will be made up of second-tier agencies currently under the control of MindShare and Mediaedge:cia. It is understood that… Continue reading WPP Unveils Maxus Global As Third Media Network