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It has been announced that KirchMedia is to be liquidated after creditors were unable to secure a buyer for the insolvent German media group. The company, which once held TV rights to World Cup football and Formula One, has been in limbo since the collapse of the parent Kirch Group in April 2002 (see KirchMedia… Continue reading KirchMedia Goes Into Liquidation

International advertising group WPP has acquired a 30% stake in the Spanish television company Mediapro for an undisclosed sum. Mediapro is based in Barcelona and specialises in television rights and production. It employs 1,000 people and had revenues of €160 million for the year ended December 31 2002. The company has operations in Spain, France,… Continue reading WPP Buys Stake In Spanish TV Firm

Vivendi Universal today announced a reduction in first quarter losses and affirmed that it is on track to achieve year-end targets. The French media group, which is in the process of trying to sell its US entertainment assets (see Party Is Over For Vivendi), said that net loss in the three months to March 31… Continue reading The Tide Turns At Vivendi

Active Value, the largest shareholder in beleagured advertising group Cordiant, has denied that it has any plans to launch a joint bid for the company with WPP Group. WPP is embroiled in a bidding race for control of Cordiant and was the favourite until the last minute intervention of Publicis. The French media giant has… Continue reading Cordiant Shareholder Rules Out Deal With WPP

Five has renewed its conditional access agreement with BSkyB, ending speculation that other terrestrial broadcasters would follow the BBC’s lead and begin broadcasting unencrypted on digital satellite. Earlier this year the BBC withdrew from the BSkyB service to begin broadcasting to digital viewers from a different satellite, in a move designed to save the Corporation… Continue reading Five Renews Conditional Access Deal With Sky

The Competition Commission has been given an extra two months to investigate the proposed £2.6 billion merger of Carlton and Granada and will now report back to Trade and Industry Secretary Patricia Hewitt on 26 August. The Commission, which was due to have completed its inquiry by the end of this month, says it needs… Continue reading Competition Commission Delays Verdict On ITV Merger

The BBC has resolved its dispute with BSkyB over the positioning of BBC1 and BBC2 on the satellite broadcaster’s electronic programming guide. Earlier this year the Corporation’s decision not to renew its digital encryption deal with BSkyB sparked a row between the two broadcasting heavyweights, with the latter threatening to relegate the BBC’s flagship channels… Continue reading BBC Resolves Digital Distribution Dispute With BSkyB

BT is merging its Openworld high-speed internet service into a new joint venture with Yahoo! The move, which comes as BT pledges to put broadband at centre of its strategy, will see the creation of a new endeavour called BT Yahoo! Broadband. The co-branded service will give BT Openworld users access to a range of… Continue reading BT Goes Down Broadband Road With Yahoo!

Shares in Cordiant Communications were suspended on the London Stock Exchange this morning pending clarification of the advertising group’s tenuous financial situation. The latest development comes after a weekend of intricate negotiations as Cordiant sought to secure a buyer. A takeover appears to be the only way the company can be saved following a number… Continue reading Cordiant Shares Suspended Amid Takeover Fight

Lord Black, chairman of Hollinger, may be forced to sell assets to avert the collapse of his publishing group following a failed attempt to restructure company debts. Last month, Hollinger, the parent company of The Daily Telegraph, called on preference shareholders to agree to a deferment of redemption on the basis that it could not… Continue reading Shareholders Reject Hollinger Proposals