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International sales helped to boost pre-tax profits at magazine publisher Haymarket by 22% in 2002, the company has announced. Haymarket said the figure rose from £20.4 million in 2001 (see City News) to £24.9 million last year. Group revenues totalled £172.3 million, up 6.8% overall. The company publishes more than fifty business and consumer magazines… Continue reading Haymarket Reports Growth In Profits

Carlton Communications has bowed down to shareholder pressure by announcing that Michael Green will step down as chairman designate of the newly merged ITV company. The broadcaster confirmed that Green has reluctantly given in to continued calls from a coalition of city institutions for him to relinquish his role at the helm of the company… Continue reading Green Relinquishes Role As ITV Chairman Designate

Cautious optimism in the media and advertising markets has become ‘reduced pessimism’ in the latest Bellwether report from the IPA. The Q3 2003 survey shows that on the whole marketing budgets are still being cut, but by fewer companies than in the previous report* (see INSIGHTanalysis: IPA Report Shows Few Signs Of Marketing Improvement). As… Continue reading INSIGHTanalysis: IPA Sees Reduced Pessimism Despite Continued Cuts

The board of Granada has blocked the appointment of Michael Green as chairman of the newly merged ITV following overwhelming pressure from institutional shareholders for the Carlton boss to resign by noon today (see Carlton Defies Shareholders Over Calls To Oust Green). Granada held an emergency board meeting last night and decided that an independent… Continue reading Green Set To Go As Granada Withholds Support

Carlton Communications has defied calls from a powerful group of institutional shareholders for Michael Green to be removed as chairman of the newly merged ITV by noon tomorrow. The broadcaster has confirmed that it has received requests from a coalition representing more than a third of the combined ITV’s shareholders for Green to immediately relinquish… Continue reading Carlton Defies Shareholders Over Calls To Oust Green

Conrad Black’s Hollinger Inc is close to securing a $15 million cash injection from private equity group Bain Capital, according to weekend reports. The Observer claims that the companies are in exclusive negotiations that should see Bain acquiring a holding in the next month. As yet, neither party has commented on the supposed deal but… Continue reading Hollinger To Get Help With Debt Relief

The Competition Commission has approved the purchase of thirteen Independent News & Media titles in the Greater London area by Newsquest but has blocked the transfer of eight others, the Department of Trade & Industry revealed today. Earlier this year, INM agreed to sell its entire portfolio of regional newspapers to US-owned Newsquest for £60… Continue reading Commission Agrees To Partial Sale Of INM Regionals

The merged ITV is to retain control of the two film businesses owned by Carlton Communications, according to press reports today. The Financial Times claims that Granada and Carlton have agreed to keep the latter’s cinema advertising business and its interests in Thomson Multimedia when their £4.2 billion merger is complete. Carlton Screen Advertising sells… Continue reading ITV To Keep Carlton Film Assets Following Merger

Independent Television Commission chief executive, Patricia Hodgson, has criticised the level of responsibility given to Ofcom and has urged the new super regulator to focus on its competition duties. Delivering last nightÂ’s annual New Statesman lecture, Hodgson warned against the dangers of Ofcom becoming tied up in the range of regulatory responsibilities set out in… Continue reading Hodgson Calls On Ofcom To Focus On Competition Duties

News Corporation chief Rupert Murdoch has professed himself more than satisfied with the performance of the company and claims to have no intention of stepping down. Speaking at News Corp’s AGM in Adelaide this week, Murdoch said that the group was “very confident” of meeting its earnings targets given the encouraging outlook. “All the signs… Continue reading Murdoch Spurred On By Improving Economy