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Cordiant Communications opened strongly on the London Stock Exchange following reports that the ailing advertising group is on the verge of offloading two major assets in a bid to alleviate crippling debts. The Independent On Sunday claimed that Cordiant is completing the formalities pertaining to the sale of PR consultancy Financial Dynamics and Australian ad… Continue reading Cordiant Lifted By Disposal Speculation

Consumer publishing ad revenues are expected to rise by 5.8% at EMAP, according to a full-year results preview by analysts at Lehman Brothers. The broker expects advertising at the consumer publishing division to come in at £147 million in 2003, up from £139 million last year. The Consumer division includes titles such as Heat, Closer,… Continue reading Heat Boosts EMAP Consumer Ad Revenues, Says Lehman

Guardian Media Group (GMG) is looking at the possibility of making a bid for Capital Radio, as part of plans to expand its radio interests. The move follows the breakdown of the group’s negotiations to buy out its joint venture associate, BC Partners, in the Autotrader publishing business. GMG, which publishes the Guardian and Observer,… Continue reading Guardian Media Sounds Out Capital Radio Bid

It has been another sobering week for mobile phone operators in the UK with analysts questioning the future of the UK’s first commercial third generation phone service and one of Europe’s leading players writing down the value of its 3G investments. In the heady days of 2000, the British government succeeded in raising £22.5 billion… Continue reading 3G Burden Getting Heavier

Radio airtime revenues at Scottish Radio Holdings (SRH) rose by 5.3% in its first half, not including new acquisitions; this is in line with predictions made in the group’s March trading statement (see Scottish Radio Sees First Half Broadcast Revenues Up 5%). Including the effect of acquisitions during the period, advertising revenues were up by… Continue reading SRH Sees Radio Revenues Up 5% In First Half

A new, but wholly familiar, figure has emerged as a bidder for the American entertainment assets of Vivendi Universal. Edgar Bronfman Junior, currently vice-chairman at Vivendi, has informed the board that he is convening a group of investors with a view to procuring the US-wing of the enterprise. The music company, film studios, theme parks… Continue reading Bronfman Joins Race For Vivendi’s Universal Assets

Profits at GWR Group increased by more than 11% in the year to March 31, according to financial results released this morning. Figures were in line with expectations (see GWR Sees Radio Revenues Down By 3.9% In Q4) and reflected the success of restructuring efforts over the past twelve months. The group’s total revenues were… Continue reading GWR Achieves Objectives In ‘Difficult’ Conditions

GWR Group is selling its stake in Vibe Radio Services to Scottish Radio Holdings after having its acquisition of Chrysalis-owned Galaxy 101 blocked by the Competition Commission (see Watchdog Blocks GWR-Backed Acquisition Of Galaxy 101). The move puts an end to GWR’s immediate plans to strengthen its position in Wales and the West, in a… Continue reading GWR Sells Vibe Following Competition Rebuttal

Carlton Communications has this morning unveiled first half financial results that beat market expectations, pushing shares in the group up by 7.2% to 119p by 10:00am this morning. Earnings before interest and tax were up from £11.3 million in H1 2002 to £32.0 million this time. The group moved into a pre-tax profit of £37.0… Continue reading Carlton Results Push Shares Up As Profits Return

The Radio Authority has urged the new super-regulator, Ofcom, to carry on its model of regulation when it assumes its full responsibilities at the end of the year. In its final Annual Report before being phased out by the new catch-all regulator, the current radio watchdog emphasised that its ability to oversee “fifty thousand programme… Continue reading Radio Authority Calls For Ofcom To Carry On Legacy