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Charles Allen’s position as ITV chief executive looked secure last night after newly appointed chairman, Sir Peter Burt, said he had no intention of attempting to oust his second in command. The former chief executive of the Bank of Scotland said he was confident that Allen was capable of helping ITV face the considerable integration… Continue reading New ITV Boss Claims Allen Is Safe As Chief Executive

ITV has today announced the appointment of former Bank of Scotland chief executive, Sir Peter Burt, as its new non-executive chairman just weeks after the completion of the multibillion pound merger of Carlton and Granada. Burt beat-off competition from Tesco chairman, John Gardiner, to take up the position left vacant last October after a coalition… Continue reading ITV Appoints Ex-Bank Of Scotland Boss As New Chairman

Capital Radio Group’s proposed £15 million acquisition of London-based Choice FM has been given the go-ahead by the Office of Fair Trading. Choice broadcasts urban contemporary music on two FM licences serving a potential audience of 5.8 million adults in London. It also owns a network of five digital radio licences covering London, Yorkshire, the… Continue reading Capital Cleared For £15 Million Choice Acquisition

Freeview saw uptake increase by more than 40% in the three months to December in a development that helped to push digital television penetration to over half of all UK households. The latest figures from Ofcom show that almost 3 million British homes received the digital terrestrial service in the final quarter of last year,… Continue reading Freeview Surge Helps Digital Reach Half Of UK Homes

Anglo-Dutch publishing group Reed Elsevier today posted increased pre-tax profits for 2003 but said it expects growth to slow in the coming year as a continued economic downturn takes its toll. Pre-tax profits were up 9%, from £927 million to £1.0 billion. Reed said its growth would have reached 10% if adjusted at full year… Continue reading Reed Elsevier Sees 2003 Profits Rise But Predicts Dip In 2004

Further signs of an improving advertising economy emerged yesterday as Omnicom Group, the world’s largest agency network, announced that its net income jumped by 10% to $221.3 million in the fourth quarter of 2003. The group, which owns BBDO Worldwide and TBWA, said that worldwide revenues were up by 18.3% to $2.5 billion. Revenue growth… Continue reading Omnicom Posts 18% Revenue Rise As Markets Improve

Reuters this morning posted underlying profits for the full year which are significantly ahead of market expectations. Group operating profit for 2003 came in at £126 million, up from a loss of £144 million in 2002. Pre-tax profits also showed a substantial turnaround, up from last year’s loss of £493 million to £49 million. Recurring… Continue reading Reuters Results Beat Expectations As Profit Returns

There will be more than 100 mergers and acquisitions in the European media sector this year, as the broader market continues to stage a recovery, according to a new report from PricewaterhouseCoopers (PwC). The Insights report says that media deals will be valued at ₏20 billion (£13.5 billion) in Europe this year, as the number… Continue reading European Media Set For Merger Activity As Markets Improve

Growth in paid search engine marketing in the US will slow to 22.5% this year, compared to 123% during 2003, according to a new report from eMarketer. The e-business research portal has predicted that revenues will surpass $2.5 billion during 2004, but the triple-digit growth of last year will fall considerably. Last year revenues across… Continue reading US Search Engine Marketing Growth To Slow In 2004

The Daily Mail & General Trust (DMGT) is understood to have entered the battle to take control of the Telegraph newspapers by teaming up with private equity firm Cinven. The group, which publishes the Daily Mail, has reportedly tabled a bid in excess of £550 million to Hollinger International, parent of the Telegraph newspapers and… Continue reading DMGT Enters Telegraph Battle As Hollinger Receives Bids