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A couple of years ago the promise of a ‘convergence’ of traditional media content with that of the internet and interactive media was the holy grail for many media corporations. Indeed, Time Warner and AOL forged their record-breaking merger largely on the promise of a global, fully ‘converged’ 21st century media empire. Things have so… Continue reading Has There Been A U-Turn On The Global Media Strategy?

Shares in Radio First, operator of the football club-based Fan Radio Network, have been delisted from the AIM today after the group failed to release its interim financial results on 31 December 2002. Radio First is in discussions to acquire an overseas media group in a deal which would allow the combined business to secure… Continue reading Radio First Shares Delisted As Overseas Acquisition Is Delayed

NTL, the financially troubled cable company, is being sued by Morgan Stanley over £7 million in allegedly unpaid fees dating back three years. The legal move comes as a blow to NTL which is in the process of a complicated financial restructuring (see NTL And Telewest Press Ahead With Refinancing Plans). Morgan Stanley remains one… Continue reading NTL Sued By Banking Adviser

Gannett has emerged as the successful suitor to SMG’s publishing division, with an offer that values the titles at £216 million, the two groups announced during the Christmas period. US group Gannett, owner of the Newsquest regional newspaper group in the UK, had all but secured the deal in December when reports emerged that SMG… Continue reading Gannett Secures SMG Publishing Deal For £216m

Michael Bungey, CEO of global marketing group, Cordiant Communications, is to step down from the post at the end of this year, handing the role to David Hearn with effect from 1 January 2003. The hand-over comes as part of a broader reorganisation of the Bates Group, Cordiant’s parent company, which began in September this… Continue reading Hearn Replaces Bungey As Chief Of Cordiant Comms

Independent News & Media (INM), the international media group and publisher of the Independent newspaper in the UK, says that advertising visibility has improved following strong trading in the fourth quarter and that circulation revenues remain very buoyant. INM’s global operating base, covering five primary markets in Ireland, Australia, New Zealand, South Africa and the… Continue reading Independent News & Media Sees Improving Ad Visibility

Ulster Television (UTV) has acquired the entire issued share capital of City Broadcasting, the operator of Lite FM, a radio station based in Dublin, the group announced this morning. UTV will pay €14.0 million (£9.0 million) for the business and will also assume liability for Lite FM’s €1.3 million debt. Lite FM is the most… Continue reading Ulster TV Acquires Dublin’s Lite FM

According to press reports, Premiere, the German pay-TV platform, has been sold to the private equity house Permira. The Financial Times claims that Permira will pay cash for a 70% stake in Premiere while the operator’s creditor banks take a 20% share as compensation in exchange for part of their E750 million in unpaid loans.… Continue reading Premiere Finds A New Home

SMG is understood to have reopened the bidding for its Herald collection of newspaper and magazine titles after US group, Gannett, reportedly attempted to renegotiate its agreed £215 million offer (see Newsquest Favourite To Take Over Herald Titles). Reports claim that after becoming the preferred bidder, Gannett attempted to lower its offer price by £12… Continue reading SMG Reopens Herald Auction, Say Reports

United Business Media (UBM) has said that it is on target to match second half revenue expectations as a result of “generally robust trading” in its UK, European and Asian businesses. The company did reveal that profits at PR Newswire were down as a result of lower US message volumes and yields. However, revenues at… Continue reading UBM Buoyed By ‘Robust’ Trading Conditions