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WPP is still confident about growth prospects for 2004 despite a fall in revenues and profits in the first half of this year. The performance of the global communications group tends to reflect the state of the advertising economy as a whole. In its interim results issued today, WPP said that revenues in the six… Continue reading WPP Undeterred By Profit Fall

The long awaited recovery in the advertising economy is imminent with all the factors in place to ensure an upturn in spending in 2004, according to WPP boss Sir Martin Sorrell. Sir Martin, whose pronouncements carry considerable weight, has consistently forecast that the advertising industry would experience a ‘bath-shaped’ recovery with 2004 seen as the… Continue reading Ad Market Begins To ‘Climb Out Of The Bath’, Says WPP

Liberty Media has revealed plans to increase its shareholding in UnitedGlobalCom, the cable group, and remains in the running for the US entertainment assets of Vivendi. UGC’s founders, including chairman Gene Schneider, have agreed to convert their class B shares for Liberty stock. This takes Liberty’s holding in UGC to 75% and voting rights to… Continue reading Liberty Throws Its Weight Behind UGC

The war-induced anxiety that characterised the first half of 2003 has now passed and UK media firms are becoming increasingly sure that a revival in the advertising economy is imminent. The quarterly survey of media companies carried out by the MediaGuardian and NOP found that almost a quarter expect growth in UK adspend over the… Continue reading UK Media Companies Upbeat On Recovery

Advertising revenues at the Telegraph Group dropped by almost 12% in the second quarter as the downturn in the recruitment sector persisted. The group, which publishes the Daily Telegraph and the Sunday Telegraph said that operating profits were down by £2.1 million to £76.2 million in the three months to June. The two titles saw… Continue reading Ad Revenues Plummet At The Telegraph

Publicis has acquired WPP’s 25% stake in ZenithOptimedia for $75 million, thus securing full control of the media buying agency. A deal had long been on the cards as Cordiant Communications, which is now owned by WPP, had a put option to sell its holding to Publicis in January 2004 (see Market Downturn Takes Toll… Continue reading WPP Sells Zenith Stake To Publicis

The number of Britons using online banking services is set to hit 11.5 million by the end of the year, according to a new report from Datamonitor. The number of online bankers has almost doubled since the height of the dotcom boom in 2000 when they numbered 5.6 million. Moreover, traffic to online banking sites… Continue reading Britons Cash In On Online Banking

Because of a growing need to connect remote and mobile workers, medium-sized firms in the US have increased their outlay on telecom services and equipment and total spending is predicted to exceed $20 billion this year. A new report from In-Stat/MDR claims that mid-market companies, namely those with 100-999 employees, are looking to the future… Continue reading Medium-Sized Companies Raise Telecom Budgets

Hollinger International, the US-based publisher of the Daily Telegraph and the Sunday Telegraph, has issued a profits warning. The costs of a special investigation into executive payments are being blamed for a prospective shortfall of 17%. In a US regulatory filing, Hollinger said that operational income for the full year would be in the $54… Continue reading Financial Probe Impacts On Hollinger Profits

The media and communications industry in the US remains on track for recovery over the next four years, despite a small set-back resulting from the war in Iraq and the outbreak of the Sars virus. The growth of 2002, albeit patchy, has strengthened during the first half of 2003 and there will be an increase… Continue reading US Media And Communications On Target For Good Recovery