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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

The Institute Of Practitioners In Advertising has strengthened its opposition to the proposed £2.6 billion merger of Carlton and Granada and has branded plans to regulate the way in which ITV sells airtime advertising as “flawed, complex and dangerously open to abuse”. Earlier this week both the IPA and ISBA appeared before the Competition Commission… Continue reading Advertisers Strengthen Opposition To ITV Merger

Reports have emerged that US media giant Viacom is set to bid for some of the entertainment assets of Vivendi Universal, taking to six the number of parties that have expressed interest in the businesses. Vivendi announced two months ago that it was prepared to listen to offers for its US entertainment division which comprises… Continue reading Viacom May Bid For Vivendi Cable Assets

Chris Evans has lost his multi-million pound claim for damages against SMG’s Virgin Radio, after the station sacked from the breakfast show slot in June 2001. The high-profile TV and radio presenter claimed he was unfairly dismissed and sued SMG for the loss of share options worth £8.6 million. However, the High Court ruled today… Continue reading SMG Triumphs Over Evans In High Court Battle

Trinity Mirror, the UK’s largest newspaper group, today said that advertising conditions have remained volatile during the last six months, with a 0.6% increase in Q1 being offset by a 0.4% decline in Q2. Overall, the period will show flat year on year growth for the group. Trinity says that the weaker performance in Q2… Continue reading Advertising Remains Volatile At Trinity Mirror

The saga of troubled advertising group, Cordiant Communications, has taken another turn today, as majority shareholder, Active Value, succeeded in gaining control of more than one quarter of the group’s shares. Active Value has been busily snatching up Cordiant shares over the last few weeks and today acquired a further 2.5 million, taking its holding… Continue reading Active Value Takes 25% Of Cordiant Shares

Channel 4 has increased its programming budget for the coming year by an additional £9 million to £439 million, the highest annual budget in the channel’s history. Announcing the new budget, chief executive Mark Thompson says that whilst the advertising market remains uncertain, it is vitally important to continue to invest money on-screen in order… Continue reading Channel 4 Boosts Programming Budget To Record High

Havas, the global advertising and communications network, will this morning announce plans to overhaul the structure of its businesses, by integrating communications, marketing and advertising divisions in each of its territories. According to a report in today’s Financial Times, the French company plans to consolidate operations into single agencies in Britain, the Netherlands, Germany and… Continue reading Havas To Consolidate Global Operations

Lad’s mag pioneer James Brown is stepping down as director of I Feel Good Publishing following its recent sale to Dennis Publishing. The former Loaded and GQ editor has resigned from the company’s board along with fellow directors, Christopher Akers and Rodger Sargent, just weeks after selling I Feel Good Publishing to Felix Dennis-owned Choice… Continue reading Lad’s Mag Pioneer Turns His Back On I Feel Good

Active Value, the majority shareholder in Cordiant Communications, this morning again increased its stake in the company. The group purchased an additional 2.5 million shares in Cordiant, taking its holding to 24.5%. This is just shy of the 25% that Active Value needs to make a blocking attempt on Cordiant’s proposed £266 million takeover by… Continue reading Active Value Bumps Up Cordiant Holding To 24.5%