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Revenues at the FT Group, publisher of the Financial Times newspaper, declined by 8% in 2002, largely as a result of the weak advertising conditions. The poor economy also had a slightly negative effect on newsstand sales, parent group Pearson said this morning in its year-end financial results. The Financial Times newspaper itself saw underlying… Continue reading FT Ad Revenues Drop 24% In 2002, No 2003 Recovery Seen

Venture Capitalist group, Candover Partners, which held takeover talks with Trinity Mirror last year, is reported to be considering making a fresh bid for the newspaper group. Candover, in partnership with another private equity group, Apax, held talks with Trinity Mirror last year about a possible deal (see Trinity Mirror Rumoured To Have Received Take-Over… Continue reading Venture Capitalist Group Mulls Fresh Trinity Mirror Bid

The tough advertising conditions in the US hi-tech market were largely responsible for a 24% decline in 2002 pre-tax profits at United Business Media (UBM), according to the group’s financial results released today. Overall group pre-tax profits, before goodwill and exceptionals, were down from 2001’s £95.9 million to £72.9 million last year. However, regionally, the… Continue reading UBM Profits Fall 24% In Tough US Ad Conditions

Channel Five has been offered a deal by the Independent Television Commission that could see its licence fee reduced by more than £20 million per year. The ITC has offered the channel, controlled by pan-European broadcaster RTL, terms for a new ten year licence that could see it paying considerably less to the Government in… Continue reading Channel Five Offered £20m Annual Licence Fee Cut

Worldwide sales of wireless LAN equipment totalled $1.68 billion during 2002, according to a new study from Infonetics Research. The company admitted that the hardware sector has not grown as quickly as anticipated but is confident that new innovations will stimulate the market. It is estimated that consumers make up 50% of wireless LAN equipment… Continue reading Overdue Growth For WLAN Hardware Market

News Corporation and Liberty Media have abandoned plans to launch a joint bid for Hughes Electronics and it is becoming increasingly likely that the two organisations will compete to gain control of the technology provider. The main prize on offer is America’s largest satellite TV operator, DirecTV which has also attracted the attention of telecommunications… Continue reading Murdoch & Malone Pull Out Of Joint Bid For Hughes

Price cuts at the Daily Mirror cost parent company Trinity Mirror £21.8 million in 2002, driving down circulation revenues by 7.6%, according to the group’s financial results released this morning. These figures follow a tabloid price war between the Mirror and arch-rival, the Sun. The cover price cuts come alongside a broader revamp and repositioning… Continue reading Bailey Moves To Stop Mirror-Sun Price War As Costs Hit

The Western European ecommerce industry was worth â‚Ź309 billion in 2002, according to the new annual trends and forecasts report from the European Information Technology Observatory (EITO). Germany took the largest share of the market at 28%, whilst the UK contributed 19% of the region’s ecommerce spend, leading France’s 13%. Currently business to business (B2B)… Continue reading Western European Ecommerce Worth €309bn, Says EITO Report

The US media corporation Clear Channel yesterday announced a return to profit with each of its major businesses reporting growth in the final three months of 2002. Revenues in the fourth quarter were up by 19% year on year to $2.21 billion with earnings before interest, tax, depreciation and amortisation (EBITDA) rising from $345 million… Continue reading Clear Channel Back In The Black In Q4

Omnicom, the world’s third largest advertising group, has challenged the gloomy picture being painted by many industry observers and announced a 9% rise in profits for the fourth quarter of 2002. The company said that twelve month earnings were up by 9.8% to $643 million, thanks in part to a strong performance in the US… Continue reading Omnicom Upbeat Following Positive Results