More Media Business articles

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

The strong relationship between online and offline sales is demonstrated by a survey which shows that over half of the visitors accessing product information on manufacturers’ websites plan to purchase the item within a week from one source or another. Retailers were initially reluctant to evaluate their internet investment (see Online Retailers Are Blinkered When… Continue reading Internet Helps To Drive Offline Sales, Says Report

Newcastle-based independent radio group, Forever Broadcasting, says it has made significant progress toward profitability since the start of the year, with record revenues and audiences in the first half. Forever’s revenue growth came entirely from local advertising, which during the period accounted for over 90% of turnover. The Tower FM and Peak FM stations were… Continue reading Forever Broadcasting Moves Towards Profitability

Cordiant has taken action to ease its debt burden by reaching a deal to sell 70% of its Australian business for £25 million. The Communications Group (TCG) which includes the George Patterson Bates agency will be owned 55% by funds advised by Pacific Equity Partners, with management taking a 15% stake. Cordiant will retain the… Continue reading Cordiant Completes Sale Of Australian Assets

Advertising revenues at Associated Newspapers – publisher of the national Daily Mail and Evening Standard in London – grew by just 0.4% in the first half of the year. Overall revenues at the division were more or less flat at £149 million. Announcing H1 results today, parent group Daily Mail & General Trust (DMGT), said… Continue reading Newspaper Ad Growth Remains Below Pre-War Levels, Says DMGT

Outdoor advertising contractor, Maiden Group, has seen sales rise by 24% in the first quarter of the year, as predicted in its full-year financials in March (see Maiden Losses Increase In Difficult 2002). This is an outperformance of the market, where sales grew by 16.9% to £169.7 million during Q1, according to figures from the… Continue reading Maiden Revenues Jump 24% In Q1, Visibility Limited

Profits at UK media group EMAP rose by 16% in the year to March 2003, up from £151 million to £175 million. This exceeds predictions of 13% growth made by analysts at Lehman Brothers (see Heat Boosts EMAP Consumer Ad Revenues, Says Lehman). The disposal of EMAP USA in August 2001 (see Petersen Sale Closes… Continue reading EMAP Earmarks £23m For New Product Launches, Results In Line

There is continued recovery in the North American advertising market, whilst Europe remains variable, according to Aegis Group chairman, Lord Sharman. Speaking at the advertising network’s AGM this morning, he said that the first fourth months of the year have seen a continuation of the ‘patchy but gradual’ recovery experienced in the latter part of… Continue reading Aegis Sees North America Ad Recovery, But Variable Europe

Pace Micro Technology has cemented its relationship with News Corporation by concluding a deal to supply Sky Italia customers with set-top boxes. Sky Italia was created on the back of News Corp’s acquisition of of pay-TV network Telepiù (see News Corp Completes Telepiu Transaction), completed last month. The new network represents Rupert Murdoch’s latest foray… Continue reading Pace Hotfoots Into Italian Market

Microsoft has ditched its 23% stake in UK cable operator Telewest Communications, indicating that the UK cable and interactive TV sector is not as attractive a market as it once was. The holding has been taken up by US telecommunications group IDT for $5 million in cash (£3 million). In July 2000, Microsoft paid for… Continue reading Microsoft Offloads 23% Telewest Stake At Heavy Loss