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Vivendi Universal, the indebted media giant, has confirmed that it is to sell its US entertainment assets in a bid to achieve financial stability. The French-based corporation posted losses of €23.3 billion in 2002 (see Vivendi Left Reeling By Staggering Losses), paying the penalty for the costly acquisition policy pursued by former chief executive, Jean… Continue reading Party Is Over For Vivendi

Cordiant Communications, the troubled UK advertising firm, said this morning that it has received “very preliminary approaches” from unidentified companies interested in buying it out. It emerged on Monday that Cordiant had lost the Allied Domecq account, one of the mainstays of its business (see Cordiant Shares Nose-Dive As Major Client Walks). The company’s share… Continue reading Potential Buyers Circle Crisis-Ridden Cordiant

Channel 4 achieved its largest ever share of terrestrial advertising revenue in 2002, as peak-time viewing rose to the highest level in its 20 year history. The channel’s latest annual report, released today, shows that it secured a 24.1% share of terrestrial advertising revenue last year, with its peak-time audience share climbing by 5% year… Continue reading Channel 4 Returns To Profit After Heavy Losses

Analysts at Lehman Brothers are expecting BSkyB to report an increase of 145,000 digital satellite subscribers in its third quarter financial results, which are due for release on 13 May. These additions would take Sky’s satellite customer base to 6.7 million, up 13.9% year on year and ahead of Lehman’s previous 12.5% growth forecast. The… Continue reading Lehman Analysts Expect 14% Subs Growth At BSkyB

Almost one in six online retailers in the US does not know its sales conversion rate and a further 43% are not aware of ‘shopping cart’ abandoned rates, according to a new study by the e-tailing group. The survey of over 200 senior executives found that online merchant businesses are often struggling with outdated legacy… Continue reading Online Retailers Need Better Conversion Measurement, Says Study

Shares in advertising and public relations group, Cordiant Communications, had plummeted by a hefty 62% by 11:00am this morning, after one of its largest clients announced that it is to terminate its contract with the agency. Drinks group Allied Domecq has said that it will end its relationship with Cordiant as of October this year.… Continue reading Cordiant Shares Nose-Dive As Major Client Walks

Future Network’s £3.5 million acquisition of French magazine group, Hachette Digital Press (HDP), has been cleared by the French authorities, the group announced this morning. HDP is the computer games magazine division of Hachette Filipacchi Presse and publishes four titles in France: Official PlayStation 2 Magazine, Joystick, Joypad and DVD Magazine. Future directly publishes over… Continue reading Future Gets Regulator Approval For French Acquisition

WPP’s wholly-owned global market research subsidiary, Millward Brown, has acquired UK qualitative research group, Sadek Wynberg Research, for an undisclosed sum, the group announced today. Sadek Wynberg employs 28 people and had gross revenues of £5.6 million for the year ended 31 December 2002 and net assets of £142,000 as at the same date. Its… Continue reading WPP Buys UK’s Sadek Wynberg Research

UK consumer expenditure on electronic media and entertainment passed the £10 billion mark in 2002 and is forecast to add a further £2 billion by 2010, according to new figures from Informa Media Group. Television subscription and pay-per-view (PPV)/video on-demand (VoD) revenues, mainly from cable and satellite operators, provide the bulk of the revenues –… Continue reading UK Entertainment Spend To Hit £12bn By 2010, Says Informa

Chrysalis Group is set to sell its television division to a management buy-in (MBI) group led by a trio of former ITV heads. Chrysalis today confirmed that a sale has been agreed in principle with debt and equity providers, although the exact terms have yet to be finalised. The MBI group is led by Steve… Continue reading Chrysalis To Sell Television Group To Former ITV Heads