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Capital Radio is to buy London urban radio group, Choice FM, for around £15 million, it announced this morning. Capital already owns 19% of the Choice group, which it acquired in September 2001 for £3.3 million (see Capital Radio Takes Stake In Choice FM). Choice operates two Hip Hop and R&B-based stations – 96.9FM in… Continue reading Capital Radio Takes Choice FM For £15m

UK online retail sales grew by 50% year on year to £1.1 billion during October, according to the latest figures from the Interactive Media in Retail Group (IMRG). This is also a 36% rise over September’s sales and could be the start of a Christmas surge for the e-retail sector. The IMRG is forecasting that… Continue reading UK Online Retail Will Double To £3.3bn This Christmas, Says IMRG

European consumers will spend â‚Ź9 billion online on this year’s Christmas shopping, almost as much as US consumers, according to a new report by Forrester Research. Europe’s 166 million regular online shoppers are expected to spend 24% of 2003’s total online retail expenditure in the run up to Christmas, totalling â‚Ź9 billion. In the same… Continue reading European Christmas Online Retail To Hit €9bn, Says Forrester

Pre-tax profits at GWR Group almost trebled during the six months to September, up from £2.2 million in H1 2002 to £6.4 million this time. Sales at the group, which owns Classic FM, have improved at a faster rate than the industry as a whole, with UK radio advertising revenues up by 5% versus around… Continue reading GWR Profits Treble With Strong Local Group Performance

Hollinger International, the US-listed newspaper publisher, has announced that Conrad Black is to step down as chief executive as it considers the possible sale of its assets to alleviate financial difficulties. Black is not the only senior executive to leave the company and the board of directors has reportedly accepted the resignations of David Radler… Continue reading Black Leaves Troubled Hollinger As Predators Circle

Chrysalis Group has posted a strong set of financial results for the twelve months to August and says that it has made a strong start to the current financial year. Fresh from the success of overtaking Capital 95.8FM with its Heart 106.2 station in London, Chrysalis has today revealed a substantial jump in pre-tax profits,… Continue reading Chrysalis Profits Surge As Outperformance Continues

Broadcasters should start to seek alternatives to their traditional advertising-based revenue models in order to combat the ad-skipping facility offered by personal video recorders (PVRs) and, more significantly, the rise of home media networks (HMN). A report from consulting firm Booz Allen Hamilton warns that home media networks (the convergence of digital media into a… Continue reading Media’s Advertising Revenue Model Under Threat, Says Report

BSkyB gained 170,000 new subscribers to its digital satellite service during the last three months, the first quarter of its financial year. The company this morning confirmed that it has achieved its target of securing 7 million customers by the end of 2003, three months ahead of schedule (see BSkyB Reaches Subscriber Target Ahead Of… Continue reading BSkyB Doubles Profit As 7m Subs Target Is Hit

Carlton and Granada have today cleared the final hurdle in their proposed £4.5 billion merger after securing formal approval on the undertakings of the deal from Trade and Industry Secretary, Patricia Hewitt. The two broadcasters are now free to proceed with their plans to create a single ITV company capable of competing more effectively against… Continue reading Government Formally Accepts Conditions Of ITV Merger

Global ad agencies Havas and Publicis have both released third quarter results which show improving, if not strong conditions. Publicis saw revenues rise by just 2.0% on an organic basis, up from a 1.6% rise in Q2 and -1.2% in Q1. However, when the effect of the integration of Bcom3 is included, revenues jumped by… Continue reading Global Ad Groups See Mixed Conditions In Q3 Figures