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French media and telecoms firm Vivendi Universal has announced a 59% drop in third quarter sales following structural changes at the group. Vivendi reported sales of €5.90, down from €14.55 in the same period last year. The 2002 figure included revenues from units such as Veolia Entertainment and Vivendi Universal Publishing which have since been… Continue reading Sales Slide As Vivendi Sheds Assets

US online retail sales will reach almost $17 billion during the holiday season, a 22% increase over the same period last year, according to a new study from Jupiter Research. The report, Holiday 2003: Online Pushes Limits of Last Minute Shopping, found that nearly 40% of online users plan to do some or all of… Continue reading Festive Online Sales To Surge, Says Jupiter

Advertising spend across Europe’s six major markets will be virtually flat this year but the improving economic situation should ensure stronger increases from 2004. The PricewaterhouseCoopers report, Entertainment And Media Outlook: 2003-2007 Europe analysed advertising conditions in France, Germany, Italy, the Netherlands, Spain and the UK and noted broadly similar trends. Traditionally, advertising has outstripped… Continue reading European Adspend Trails GDP Growth, Says PwC

Earnings at Rupert Murdoch’s News Corporation more than doubled in its first quarter with the media conglomerate’s movie unit reporting the largest growth. The company posted a net profit of $422 million in the three months to the end of September, up from $162 million in the same period last year (see Price War Drives… Continue reading Film Sales Lift News Corp Profits

Spending on entertainment and media in Europe’s largest economies will grow at a compound annual growth rate (CAGR) of 3.4% between now and 2007, according to a report published by PricewaterhouseCoopers (PwC). The global professional services firm calculates that total media and entertainment spending in six key countries (UK, France, Germany, Italy, Spain and the… Continue reading European E&M Industry To Remain Buoyant, Says Report

Losses at Telewest fell by 25% in the third quarter of 2003 as the cable firm sought to build on its customer base and free itself from crippling debts. Telewest said today that turnover was up 1% to £339 million in the three months to September while operating losses were slashed by 73% to £17… Continue reading Telewest Losses Narrow In Third Quarter

Concerns over the inexperience and intentions of new BSkyB chief executive James Murdoch are likely to prolong uncertainty at the company, according to city analysts. The appointment of Murdoch, youngest son of media baron Rupert, has irked shareholders concerned that the family may be exerting too great an influence at the satellite broadcaster (see Murdoch’s… Continue reading BSkyB Coronation Could Cause Disruption, Says Merrill Lynch

Clear Channel Communications saw turnover rise in the third quarter of 2003 but the flat performance of the radio division shows that this sector remains slow. Total revenues at the US media corporation rose by 9% to $2.54 billion with net profits coming in at $636.0 million, up from $212.5 million in 2002. The gain… Continue reading Clear Channel Waiting On Radio Recovery

Carlton and Granada have confirmed that the former head of Lloyds TSB Sir Brian Pitman is to become interim chairman of ITV plc (see Allen Deal Could Spark Fresh Shareholder Dispute). A steering committee of six non-executive directors, three from Carlton and three from Granada, met earlier today to discuss the future of the board,… Continue reading ITV Plc Unveils Steering Committee

NTL, the UK’s largest cable operator, has unveiled plans to raise $1.43 billion to enable the firm to regain its financial footing. Under the terms of the proposed rights issue, 35.8 million shares will be offered at $40 each, the objective being to reduce the company’s debt to around $5.3 billion. Current shareholders will receive… Continue reading NTL Outlines Details Of Rights Issue