More Media Business articles

Cable firm Telewest Communications has finalised restructuring plans and agreed a debt-for-equity swap that will leave shareholders with just 1.5% of the company. Protracted talks with bondholders, notably W.R.H Huff Asset Management, Liberty Media and IDT Corporation, have resulted in a deal which will see £3.5 billion of Telewest debts exchanged for shares. The refinancing… Continue reading Telewest Agrees Restructuring Deal

Trinity Mirror chief executive Sly Bailey has received a vote of support from an unlikely source as she presses ahead with her revamp at the newspaper publisher. Tweedy Browne, a New-York based investment firm, which holds a 5.5% stake in Trinity, told the Financial Times that there were signs that Bailey was “making the right… Continue reading Bailey Wins Approval For Trinity Strategy

Ulster Television (UTV) continued to outperform the ITV Network in advertising revenue growth during the first half of the year, reporting a 1% rise in airtime revenues, as against ITV’s 5% decline. This pushed UTV’s share of total ITV revenue up to a record 2.4%. Ulster TV has consistently outperformed its ITV franchise peers for… Continue reading Ulster TV Continues To Outperform ITV In First Half

Stronger than expected activity in the US and a slight upturn in Europe has prompted ZenithOptimedia to raise its full year forecast for global advertising expenditure. However, the revision was small and the outlook is for modest growth moving into 2004. Analysts estimate that the ad market will grow to the tune of 3.2% this… Continue reading Zenith Sees Signs Of Recovery In Ad Market

Global communications network, Aegis Group, has acquired the international research business Censydiam in a deal worth up to £8.75 million. Censydiam is based in Belgium but has offices in six other European countries as well as the US and Hong Kong. The company had revenues of approximately £15.7 million in 2002. Aegis will pay an… Continue reading Aegis Snaps Up Belgian Market Research Firm

The US Senate has stepped up its efforts to scupper new media ownership laws by invoking a seldom used “congressional veto” that threatens to frustrate rule makers. The Federal Communications Commission (FCC) is seeking to relax existing restrictions on ownership. Proposed moves include scrapping the ban on cross-ownership of newspapers and television and allowing broadcast… Continue reading US Congress Stands Up To FCC Over Media Ownership

UK magazine publisher Highbury House Communications (HHC) today said that the costs of its acquisition and restructuring programme, together with continued weak business publishing markets, are likely to push down profits for the whole of 2003. Announcing first half financial results, the group said that the second half of the year should see a good… Continue reading Highbury House Profits Fall After Restructure Costs

David Elstein’s potential bid for ITV has been boosted by reports he has received tentative backing from US entertainment giant Hallmark. According to reports, Elstein has set up camp in Hallmark’s London offices to thrash out an alternative management plan for ITV, as Carlton and Granada remain on the cusp of a merger decision from… Continue reading Elstein’s ITV Bid Boosted By Hallmark Link

Independent News & Media is investigating ways in which it can satisfy the competition authorities should the company be successful in acquiring the Irish titles of Trinity Mirror. According to The Guardian, executives at INM are talking to a number of leading business figures in Northern Ireland about making a joint bid for the newspapers,… Continue reading O’Reilly To Compromise In Bid For Trinity Titles

Doug Flynn, chief executive of media buying group, Aegis, claims the outcome of the investigation into the proposed £4 billion merger of Carlton and Granada is irrelevant because the creation of a single ITV is a near certainty. According to reports in today’s press, Flynn expects Trade and Industry Secretary, Patricia Hewitt, to approve the… Continue reading Aegis Chief Claims ITV Merger Remedies Are Irrelevant