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The sale of SMG’s publishing division to Gannett UK has been cleared by the Department of Trade and Industry (DTI) and is expected to complete shortly, the group said today. As announced at the end of last year (see Gannett Secures SMG Publishing Deal For £216m), US group Gannett will pay £216 million for SMG… Continue reading SMG’s £216m Publishing Sale Gets DTI Go-Ahead

UK radio revenues at GWR Group are expected to be down by 3.9% in the quarter to 31 March. This is partly because Easter falls after March this year and so does not provide the Q4 boost experienced in 2002 (this is GWR Group’s Q4). The company says that this is in line with its… Continue reading GWR Sees Radio Revenues Down By 3.9% In Q4

IPC Media has announced that Sylvia Auton, managing director of its Country & Leisure Media Group, is to replace Sly Bailey as chief executive. Auton will fill the position, which became available last November when Bailey shocked the media industry by stepping down to take up the chief executive position at Trinity Mirror (see Bailey… Continue reading IPC Appoints Auton As New Chief Executive

Outdoor advertising contractor, Maiden Group, has posted a pre-tax loss of £1.1 million for the year to 31 December 2002. This is an increase on the deficit of £0.2 million recorded in 2001. Releasing the results, Maiden’s chief executive, Ron Zeghibe, said that figures were in line with expectations and that they reflect the continued… Continue reading Maiden Losses Increase In Difficult 2002

Telewest Communications, the UK’s second largest cable group, today reported narrowing net losses for the year to December but writedowns pushed the company deeper into debt to the tune of $5.3 billion. Underlying earnings increased by 19% to £379 million in 2002 while turnover rose by 2% to £1.35 billion. The company embarked on a… Continue reading Telewest Results Hit By Writedowns

German media corporation Bertelsmann yesterday announced a 63% increase in earnings for 2002 but profits slipped as a result of the costly acquisition of record label Zomba. According to its annual report, net income at Bertelsmann fell to €928 million from €1.24 billion in 2001. This came despite an rise in operating EBITA from €573… Continue reading Bertelsmann Sees Earnings Jump In 2002

Cable & Wireless, the troubled UK telecoms firm, appears to have averted a crisis after agreeing a deal with the Inland Revenue that will settle a £1.5 billion tax dispute. According to a statement, C&W will pay £380 million to the Revenue to cover outstanding corporation tax liabilities for the ten years to March 31… Continue reading C&W Settles Tax Dispute With Revenue

Capital Radio has said that it expects its radio revenues to decline by 3% in the three months to March 2003, following a 6% drop in the final quarter of last year (see Capital Radio Ad Revenue Falls 6% In Q4 2002). The group said in a trading statement this morning that the figures will… Continue reading Capital Sees Revenues Down 5% In First Half

Independent News & Media (INM) has this morning posted a positive set of financial results for 2002, with like for like pre-tax profits rising by 8% to €129.0 million. The group, which publishes the Independent in the UK, said that overall newspaper revenues were up 0.7% in constant currencies, but down 3.2% in real terms… Continue reading INM Profits Rise 8%, Confident Outlook For 2003

Independent News & Media (INM) is selling its UK regional newspaper assets to Newsquest for £60 million, the group announced along with its financial results this morning. INM, publisher of the Independent national paper in the UK, has reached an agreement with Newsquest’s US parent, Gannett, to sell the 29 paid-for and 16 free weekly… Continue reading Independent News Sells UK Regional Papers To Newsquest