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Cordiant Communications has made clear that it aims to find an industry partner rather than undergo thorough restructuring that would enable it to continue as a standalone company. The troubled advertising group said in a statement yesterday that discussions with clients were at an ‘advanced stage’ and there was consensus over the need to find… Continue reading Cordiant Committed To Buyout Strategy

The media tycoon who had vowed to extricate Germany’s largest television broadcaster from the ashes of the Kirch empire has admitted defeat and withdrawn his offer. KirchMedia said today that it had abandoned plans to sell ProSiebenSat1 to the US investor Haim Saban. This comes less than three months after a €2 billion deal was… Continue reading Kirch TV Deal Hits The Rocks

The advertising downturn’s nadir looks to have passed, having hit in Q4 2002, according to Morgan Stanley. Media analysts at the broker say that they have become increasingly convinced that the worst is now over, with signs of stability seen in Q1 2003 persisting. The US remains stronger than Europe, with advertising growth of around… Continue reading Advertising Nadir Has Passed, Says Morgan Stanley

The deadlock over the Government’s plans to relax the media ownership regulations could be eased after influential Labour peer, Lord Puttnam, put forward a compromise to impose a special public interest test on large media groups wanting to buy Five. In their current form, proposals in the Communications Bill, which is now at its committee… Continue reading Puttnam Plan Could End Media Ownership Deadlock

Online banking is expected to maintain its upward momentum in Western Europe with the number of accounts set to increase by over 50 million in the next five years, according to a new study from IDC. It is estimated that there were around 50 million European surfers accessing internet banking services by the end of… Continue reading Europeans Switch To Internet Banking

The personal video recorder (PVR) may be the next killer application for BSkyB’s digital satellite service, with the current free trials to be followed by a marketing push towards Christmas. Speaking at a Merrill Lynch-hosted TMT conference this week, Sky’s chief executive, Tony Ball, outlined some of the company’s forthcoming plans. PVRs look set to… Continue reading PVRs Could Be The Next Killer App For BSkyB

US media ownership restrictions were yesterday relaxed by the country’s Republican-led Federal Communications Commission (FCC). In a 3-2 vote over the body’s Democrat contingent, rules governing cross media ownership and audience share limits were eased in a move that is similar to proposals in the UK’s pending Communications Bill (see Puttnam Threatens To Quash Communications… Continue reading FCC Relaxes US Media Ownership Rules As Expected

Culture Secretary, Tessa Jowell, has issued a stern defence of the Communications Bill, warning that if Rupert Murdoch takes control of Five, new rules will be introduced to prevent him from using the channel to cross promote his other media interests. Peers are due to gather in the House of Lords today to discuss the… Continue reading Jowell Hints At New Laws If Murdoch Moves On Five

Things are certainly starting to firm up in the US, particular after the whopping upfront season, which has just closed around 15% higher than last year’s commitments. The upfront spend has exceeded pretty much everyone’s expectations and this will have a positive effect on the confidence of the industry. Aegis Group says that the advertising… Continue reading INSIGHTanalysis: Media Healthcheck – May 2003

WPP, the advertising group headed by Sir Martin Sorrell, is set to launch a bid for ailing rival Cordiant Communications, according to Sunday press reports. Cordiant has been the subject of takeover talk for most of this year, having borne the brunt of the advertising downturn (see Market Downturn Takes Toll On Cordiant). The company… Continue reading Sorrell Indicates Interest In Cordiant