More Media Business articles

Revenues from gaming via mobile devices are set to reach almost $7 billion by 2010, surpassing even broadband internet gaming, which will generate $4.1 billion by this time, according to a new set of forecasts from Informa Media Group. Informa’s report shows that three emerging sectors – broadband, mobile and interactive TV (iTV) – will… Continue reading Gaming Revenues To Hit $7bn By 2010, Says Informa

The US House Of Representatives has voted by an overwhelming majority to overturn a proposal by the Federal Communuications Commission (FCC) to relax media ownership rules. Last month the Republican-dominated FCC voted 3-2 to raise the ownership cap for national broadcasters from 35% to 45% of homes (see FCC Relaxes US Media Ownership Rules As… Continue reading Congress Torpedoes Media Ownership Legislation

Outdoor advertising group JCDecaux has reported a 2.8% decline in turnover for the first half of 2003 with the Sars virus and the European advertising slowdown seen as contributing factors. Total revenue for the six months ended June 30 came to €758.2 million, compared with €779.9 million in the same period last year. In the… Continue reading Ad Market Remains ‘Difficult’ For JCDecaux

Media giant, AOL Time Warner, today reported a 6% jump in revenues during its second quarter, boosted by strong performances from the film and cable divisions. The group’s revenues hit $10.8 billion for the quarter, whilst net profit jumped from last year’s $396 million to $1.1 billion this time. Chairman and CEO, Dick Parsons, described… Continue reading AOL TW Figures Improve, But Online Is Still Weak

The fate of Cordiant Communications has been all but sealed this afternoon, as shareholders voted overwhelmingly in favour of the proposed takeover of the group by WPP. At an extraordinary general meeting today, shareholders representing 99.2% of the company’s stock voted to proceed with WPP’s £266 million takeover bid (see WPP Closes In On Cordiant,… Continue reading WPP Triumphs In Cordiant Battle

After approving the takeover by WPP earlier today (see WPP Triumphs In Cordiant Battle), Cordiant Communications’ shareholders have also voted in favour of removing the company’s chief executive, finance director and chairman from its board of directors, according to a report from Reuters. Cordiant’s largest shareholder, Active Value, had called for the directors to be… Continue reading Directors Go In Cordiant Shareholder Vote

The Guardian Media Group (GMG), publisher of the Guardian and Observer newspapers, has posted strong financial results for the twelve months to March 2003, despite the difficult trading conditions that have typified the period. The group said that advertising revenues were up by 4.1% to £254.9 million, whilst circulation revenues rose by 6.2% to £81.7… Continue reading Guardian Media Group Posts Good Figures In Weak Markets

Sunrise Radio’s bid to acquire Mean Country 1035 AM has been given preliminary approval by the Radio Authority, following the passing of the Government’s Communications Act last week (see Parliament Finally Green Lights Communications Act). Sunrise, which operates radio stations for Asian listeners in London and across the UK, is planning to takeover Mean Radio… Continue reading Watchdog Shines On Sunrise Radio’s Mean Country Bid

Trinity Mirror is to close the Daily Mirror’s two Saturday magazines M and Look, as part of a wider cost cutting strategy being launched by the publisher. The company told staff yesterday that the flagship weekly magazine, M, and the listings title, Look, are to close with the loss of almost 30 jobs. The move… Continue reading Trinity Mirror Closes Saturday Magazines To Cut Costs

Culture secretary, Tessa Jowell, has admitted that Lord Puttnam’s last minute plurality test amendment to the Communications Bill was an improvement to the recently passed legislation (see Parliament Finally Green Lights Communications Act). The Government was forced to accept the eleventh hour proposal after a group of rebel peers threatened to vote down the Bill… Continue reading Jowell Admits Plurality Test Improved Communications Act