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Trading has deteriorated rather than improved in the second half, contrary to previous expectations, according to advertising and public relations company, Chime Communications. In a trading statement issued this afternoon, Chime said that the second half has has proven to be worse than the first and the full year outcome is now predicted to be… Continue reading Chime Shares Fall 75% As Tough Conditions Cause Banking Breach

Forever Broadcasting, the Newcastle-based independent radio company, this morning announced an operating loss of £2.1 million from its five radio stations in the year ended 30 September 2002. Turnover at the group rose by 27% to £3.8 million during the year. Commenting on the results, chairman John Josephs said: “Although the year was more difficult… Continue reading Forever Broadcasting Looks At Management Buy-Out

BSkyB has bought out its three original partners in the British Interactive Broadcasting (BIB) business by issuing shares to the groups and so dissolving the partnership between them and Sky. BT, HSBC and Matsushita were all partners in the BIB venture when it was developed towards the end of the 1990s, but their contract enabled… Continue reading BSkyB Takes Full Control Of Interactive Service

EMAP has this morning posted a strong set of first half financial results, which show pre-tax profit before exceptional items up by 23% to £86 million during the six months to 30 September 2002; operating profit rose by 23% to £95 million. The results are slightly stronger than analysts’ expectations and come during tough market… Continue reading EMAP Shows Good Results In Improving Markets

Music sales via the internet, previously hailed as a key growth sector, have been exaggerated and will not prove to be the industry’s long-term saviour, according to a new report from Informa Media Group The Global Music Industry: Facts And Forecasts predicts that the value of global online sales will remain almost unchanged in 2002.… Continue reading Internet Music Sales Are Not Industry’s Saviour, Says Informa

BSkyB saw a welcome return to profit in the first quarter of its financial year as it took advantage of the demise of its main pay-TV rival. The satellite broadcaster today announced pre-tax profits of £43 million for the three months to September. This compares with a deficit of £23 million in the same period… Continue reading BSkyB Back In The Black Following Strong Subscriber Growth

In a surprise development, News Corp chairman Rupert Murdoch has today ruled out a move for Channel 5. Speaking after the BSkyB results press conference in London, he said that News Corp was “not interested” in acquiring the terrestrial network. The news will come as a shock to many commentators who feared that the liberalisation… Continue reading Murdoch Denies Interest In Five

Sumner Redstone, chairman of Viacom, refused to rule out a bid for ITV at the Royal Television Society (RTS) dinner in London last night. According to Media Guardian, Mr Redstone has more than a passing interest in ITV. “We are impressed with the opportunity,” he said. “We would first have to do a lot of… Continue reading Viacom Eyes Prospect Of ITV Takeover

Bertelsmann, Germany’s largest media company, today announced third quarter losses of E384 million but has expressed confidence that business will pick up in the last few months of the year. Bertelsmann, whose interests include Channel 5 owner RTL, made an operating profit of E102 million but accounting write-downs meant that the company’s net debt had… Continue reading Bertelsmann Upbeat Despite Mounting Debts

Carlton and Granada are poised to take the plunge and propose a single ITV sales house to the Office of Fair Trading (OFT), according to reports today. It is understood that the submission will arrive at the OFT at the end of the month. However, it is widely expected that any merger will be referred… Continue reading ITV Ready To Push For Single Sales House