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After a protracted bidding process, spanning almost a year, KirchMedia is finally being sold to US media magnate Haim Saban and the Saban Group. As a first step in the deal, the two parties signed off the acquisition by Saban of a majority holding in ProSiebenSat.1, Germany’s largest free to air broadcaster. Saban is reported… Continue reading Haim Saban Agrees To Buy ProSiebenSat.1

Analysts are still unsure as to the impact that the looming conflict in the Middle East will have on the advertising world. Contrasting pronouncements allied to a ‘wait and see’ mentality have only muddied the waters and it is this general sense of uncertainty which is acting as a restraint on growth. Last week, stronger… Continue reading INSIGHTanalysis: War And The Ad Economy

Gerhard Zeiler, the new chief executive of RTL, today vowed not to sell Channel Five and maintained that his company remained committed to the success of the venture. Five has been a notable success story for RTL, which today announced narrowed losses for 2002 (see RTL Cuts Losses As Results Beat Expectations). The channel generated… Continue reading Five Not For Sale, Says RTL Chief

UK publishing group, Highbury House Communications, is planning to buy Cabal Communications for around £10 million, it announced this morning along with year-end financial results. Cabal, which publishes Front, The Real Homes Magazine and Procycling, was set set up in June 1998 by ex-IPC editor in chief, Sally O’Sullivan. Its Front title is ranked fifth… Continue reading Highbury House To Buy Cabal Comms, As Profits Rise 9%

Pan-European broadcaster, RTL Group, has reduced its losses from €2.5 billion in 2001, to just €56 million last year, according to the company’s year-end financial results released today. The results were ahead of expectations from analysts at Merrill Lynch, due to a significant outperformance in television and radio. The broker says that losses at the… Continue reading RTL Cuts Losses As Results Beat Expectations

Ulster Television has defied challenging advertising conditions to record a 3.7% rise in pre-tax profits for 2002, according to the company’s figures published today. Northern Ireland’s television broadcaster continues to outperform the likes of Carlton and Granada and ad revenues rose by 4.7% to £37.8 million against a decrease of 1% across the whole network.… Continue reading Ulster Outshines ITV Giants In Latest Results

UPC has had its recapitalisation proposals approved by a Dutch court, a major step in the company’s efforts to recover from bankruptcy. The pan-European cable group was seeking authorisation to restructure debts of around €10 billion, the legacy of an ambitious acquisitions policy that took it to the brink of collapse (see UPC Files For… Continue reading UPC Wins Backing For Refinancing Plan

The race for the assets of stricken media group Kirch appears to have come to a head following news that Bauer Verlag is to withdraw from the bidding process. The publisher’s decision leaves US media magnate, Haim Saban, as the only remaining bidder for KirchMedia, which has a majority stake in ProSiebenSAT1, Germany’s largest free… Continue reading German Publisher Abandons Bid For Kirch

Cable operator NTL has announced that James Mooney is to become non-executive chairman. The appointment ends a long search to fill the position which became available last autumn when George Blumenthal, was forced out by bondholders. Mooney was most recently chief operating officer at US mobile operator, Nextel Communications. He will work alongside NTL chief… Continue reading Mooney Answers The Call At NTL

Minister of State for E-Commerce and Competitiveness, Stephen Timms, has hinted that the Government is unwilling to reconsider its plans to allow foreign ownership of UK media assets, despite the threat of significant opposition in the House of Lords. Earlier this week, head of the Joint Scrutiny Committee on the Communications Bill, Lord Puttnam, warned… Continue reading Government Unwilling To Budge On Foreign Ownership