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The Competition Commission may delay its report to the Government on the proposed £2.6 billion merger of Carlton and Granada in order to further consult advertisers and rival broadcasters. The Commission was due to report the findings of its enquiry into the creation of a single ITV by 25 June. At this point it would… Continue reading Competition Commission May Delay ITV Merger Verdict

The financial rescue plans at UK cable company, Telewest Communications, appear to have been snagged by bondholders trying to squeeze a bit more value out of the proposed debt-for-equity swap. The plan is for Telewest’s bondholders to subsume £3.5 billion of the company’s £5.3 billion debt in return for control of around 97% of the… Continue reading Bondholders Push For More In Telewest Debt Swap

Ailing advertising group, Cordiant Communications, is to make another disposal of its non-core assets in an attempt to lighten the load of a £200 million debt burden, ahead of a likely sale of the group (see Cordiant Committed To Buyout Strategy). It is to sell its 77.3% stake in German advertising and marketing company, Scholz… Continue reading Cordiant Offloads Scholz As WPP Moves In

There could be a fresh twist in the ongoing ITV merger saga with stories emerging over the weekend indicating a takeover attempt for both Carlton Communications and Granada. According to a report in the Sunday Times, the US billionaire Haim Saban and the private equity group Apax Partners have a well-advanced plan to buy into… Continue reading US Investor Linked With ITV Acquisition

There is a broadly positive sentiment coming from companies in the media and advertising industry, with US groups remaining more bullish than the Europeans, according to Merrill Lynch‘s TMT Conference, held in London last week. European companies remain relatively upbeat, despite the fairly depressed conditions here. The broker says that declines in most areas appear… Continue reading Media Conference Finds Upbeat Sentiment

Carlton and Granada have reportedly proposed directly linking advertising rates with audience figures in an attempt to save their planned £2.7 billion merger. According to reports in The Times, the offer is part of a final round of trading between the ITV companies and the Competition Commission in a last ditch attempt to gain approval… Continue reading ITV May Link Advertising Rates To Audience Figures

Conditions in the first five months of this year have led Don Cruickshank, chairman of SMG, to be cautious about the remainder of the media group’s year, according to the company’s AGM today. Cruickshank told the meeting that a recovery which began in the second half of last year, began to stall in the early… Continue reading SMG Sees No Material Advertising Recovery Until 2004

While ITV powerhouses Carlton and Granada remain embroiled in a protracted struggle to save their merger plan (see ITV Merger ‘May Not Go Ahead’ Finds Morgan Stanley), the minority TV groups are going quietly and efficiently about their business. Ulster Television’s AGM took place today and shareholders have been be told that the group remains… Continue reading Ulster TV Outperforms ITV In First Quarter

Conditions in the first five months of this year have led Don Cruickshank, chairman of SMG, to be cautious about the remainder of the media group’s year, according to the company’s AGM today. Cruickshank told the meeting that a recovery which began in the second half of last year, began to stall in the early… Continue reading SMG Sees No Material Advertising Recovery Until 2004

Aegis Group, the global communications network, is to withdraw funding from US internet marketing firm NewworldIQ and is set to write off millions of dollars in investment. NWIQ was acquired by eVerger, a joint venture between Aegis and Warburg Pincus, at the peak of the dotcom boom but business has proved lacklustre and the decision… Continue reading Aegis To Write Down Investment In Dotcom Marketers