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The French media group Vivendi has announced a reduction in losses for the first six months of 2003 as it seeks to extricate itself from a severe debt crisis. The company said yesterday that net debt was down to €13.7 billion from more than €35 billion this time last year following the sale of a… Continue reading Vivendi On The Comeback Trail, Fourtou Targets Profit

BSkyB has today confirmed that Tony Ball is to step down as chief executive, after four years at the helm of the satellite broadcaster. Ball will continue in his current position until a successor is appointed, but he is expected to leave well before his current contract expires at the end of May next year.… Continue reading Tony Ball To Step Down As BSkyB Chief

Emap is forecasting a 3% increase in revenues when first-half results are issued in November but claims that it is premature to suggest that market conditions are improving. In a trading statement today, the cross-media group said that there had been revenue growth across all four of its divisions with Emap Consumer Media making the… Continue reading Emap Circumspect In Spite Of H1 Revenue Gains

City investors have offered a gently positive reaction to the announcement of the departure of BSkyB’s chief executive, Tony Ball, with shares up slightly by 1.5% to 630.5p by mid-morning today. Sky’s chairman and head of News Corporation, Rupert Murdoch, is reportedly planning to install his youngest son James as Ball’s successor at the satellite… Continue reading Sky Shares Show Small Rise On News Of Ball’s Exit

Some of BSkyB’s largest institutional shareholders have warned the satellite broadcaster that they will not accept the unchallenged appointment of James Murdoch as chief executive. Reports suggest that ten of BSkyB’s biggest shareholders have urged its board of senior independent directors to ensure an ‘impartial’ succession to Tony Ball, who is stepping down after four… Continue reading BSkyB Shareholders Express Concern Over Ball Successor

ITV giants Carlton and Granada have rebuffed advances from two US media groups that have expressed an interest in buying a single ITV group. According to reports, Viacom and Saban Capital Group have both indicated that they might bid for ITV if Carlton and Granada’s planned £4 billion merger gets the go-ahead. Reports from last… Continue reading ITV Groups Reject US Takeover Approaches

The number of people conducting banking transactions over the internet has increased by almost 80% over the last two years, according to a new report from Nielsen//NetRatings. Analysis of the research firm’s Fall 2003 @Plan data shows that the number of US adults carrying out banking tasks online has grown from 13 million to 23… Continue reading Online Banking Paying Dividends, Says Report

Rupert Murdoch could step aside as chairman of BSkyB in an attempt to calm shareholder unease over plans to appoint his son chief executive of the satellite television company. Shareholders have expressed concern over proposals to put 31 year-old James Murdoch, the current head of Asia’s Star TV satellite network, in charge of BSkyB after… Continue reading Murdoch Could Step Down As BSkyB Chairman

Daily Mail & General Trust, publisher of the Daily Mail newspaper, today said that its most advertising-reliant businesses have continued to experience difficult trading conditions over the last twelve months, most notably at the Associated Newspapers division. Associated has seen ongoing weakness in the national display advertising market, as well as in the London classified… Continue reading Daily Mail Sees Ongoing Weakness In National Advertising

Independent News & Media is reported to have made a £40 million bid for Trinity Mirror’s Irish titles but the offer does not include the Belfast News Letter. The publishing group, headed by Tony O’Reilly, already owns the Belfast Telegraph and had been seen a strong contender for the newspapers, which were put up for… Continue reading O’Reilly Submits Bid For Trinity’s Irish Titles