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One of the bidders for the Vivendi Universal Entertainment (VUE) portfolio of businesses is understood to have been eliminated from the auction process, according to a report in today’s Financial Times. The paper says that Universal Partners, the consortium led by US oil billionaire Marvin Davis, has been ruled out by Vivendi, as its offer… Continue reading Vivendi Selects VUE Bidders In Auction

Sir Martin Sorrell, chief executive of WPP, last night set out clearly his group’s position over the proposed takeover of Cordiant Communications (see WPP Seals £266m Cordiant Takeover), saying that the offer on the table will not be revised. The statement comes after Cordiant’s major shareholder, Active Value, has gradually increased its holding in the… Continue reading WPP Stands Firm On Cordiant Deal

Respected market observer, Sir Martin Sorrell, yesterday told WPP’s AGM that there are signs of stabilisation in the advertising and marketing services industry, particularly in the US. Sorrell has long held the belief that a turnaround in the depressed advertising sector would not begin until 2004 and that it could take until 2008 for growth… Continue reading Sorrell Sees Signs Of Stabilisation

EMAP has been given competition clearance to acquire France’s Excelsior Publications, propelling it to the number two spot in the country’s consumer magazing publishing sector. The deal was originally announced on 2 April, but required approval from the French competition authorities before it could go ahead (see Emap Raises Profile With French Acquisition). The newly… Continue reading EMAP Becomes France’s Second Largest Consumer Mags Publisher

Global market research network, Taylor Nelson Sofres (TNS), this morning said that trading in its markets will yield broadly flat revenues for the first half of the year. The group’s figures paint a similar picture to WPP’s trading statement this week (see Sorrell Sees Signs Of Stabilisation). That is to say, the US is stronger… Continue reading TNS Sees Flat H1, NFO WorldGroup Deal Progressing

The latest global advertising forecasts from ZenithOptimedia offer a mixed prognosis for the industry with regional variances providing cause for consideration. The media services agency continues to predict full-year growth of 2.9% in current currency and 1.0% in constant currencies. Worldwide ad expenditure for 2002 came in at $315.3 billion, representing an improvement over 2001… Continue reading Worldwide Advertising Forecasts From ZenithOptimedia

Granada shareholders are growing increasingly unhappy over the terms of the proposed £2.6 billion merger with Carlton Communications and are concerned about whether they are getting a fair deal. According to a report in The Independent On Sunday, institutional investors met with Granada executives recently to discuss whether the deal, which would save the merged… Continue reading Granada Shareholders Uneasy Over ITV Merger Deal

Independent News & Media has issued an upbeat trading statement in which it claims to be generating revenues in excess of 2002 levels and is on target to deliver encouraging interim results. The group, which owns The Independent, The Independent on Sunday and the Belfast Telegraph, said that circulation revenues continued to grow in all… Continue reading INM Reports Strong Start To Year

The Government now looks almost certain to bow to pressure from the House of Lords and accept Lord Puttnam’s plurality test amendment to the Communications Bill, in a move that will end the long running deadlock over the relaxation of the media ownership regulations (see Puttnam Threatens To Quash Communications Bill). The proposal to impose… Continue reading Government Almost Certain To Accept Puttnam Proposal

WPP has cleared one of the last hurdles en route to the acquisition of Cordiant Communications by agreeing to buy out the outstanding debt held by a US investment fund. The global advertising group has paid £90 million to Cerberus Capital Management, a week after offering £266 million to take control of Cordiant and its… Continue reading WPP Raises Stakes In Cordiant Tug Of War