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Losses at the UK’s largest commercial radio group, GWR, have risen to £12.1 million for the six months ended 30 September 2002, in what chairman Ralph Bernard describes as a period of ‘volatile and difficult trading conditions’. Total loss for the same period in 2001 was £1.9 million. Turnover at the group remained flat year… Continue reading GWR Losses Deepen To £12m As Tough Market Conditions Bite

ITV partners, Carlton and Granada, are believed to be be planning to persuade the Government to allow them to take control of ITN, as they move closer to their £2.6bn merger (see Carlton/Granada Move Closer To £2.6bn Single ITV Company). The existing ownership regulations are due to be relaxed in the forthcoming Communications Bill, but… Continue reading Carlton And Granada Move To Take Control Of ITN

NTL, the UK’s leading cable operator has confounded city predictions and ruled out an imminent merger with its rival Telewest, according to a report in yesterday’s Sunday Telegraph. The two companies are currently undergoing restructuring in a bid to combat mounting debts and it had been assumed that they would join forces once financial stability… Continue reading NTL Plays Down Merger Talk

The Wireless Group (TWG) has acquired from Clear Channel, 38% of the London II digital radio multiplex licence, which reaches a potential audience of 10.8 million. The group has also taken Clear Channel’s 23% holding of the digital multiplex that covers Glasgow and Edinburgh, paying £898,000 in total for the combined stakes. TWG already owned… Continue reading Wireless Group Builds Digital Stakes

US radio group, Clear Channel, is believed to have ruled out acquiring UK radio assets through hostile bids. The Financial Times reports that Roger Parry, the chief executive of Clear Channel International, claimed that the group would only be interested in buying a UK radio operator if it was confident it could combine it with… Continue reading Clear Channel Rules Out Hostile UK Radio Bids

Merger talks between Europe’s largest publisher, Axel Springer, and Switzerland’s largest publishing group, Ringier (see Axel Springer Stake Up For Sale), are understood to have collapsed. According to the Financial Times, the stumbling block was Michael Ringier’s reluctance to relinquish control of his family-owned business to the German rival. The stake in Axel Springer that… Continue reading Axel Springer/Ringier Merger Talks Break Down

NTL, the debt-laden UK cable operator, had a mixed message for investors when it issued its third quarter figures yesterday. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled £182 million in the three months to September 30, up 44% on the same period last year. However revenues fell to £617 million from £627 million… Continue reading NTL Earnings Rise As Cost Cutting Continues

Commercial radio groups have warmly welcomed the Government’s decision to allow greater consolidation within the industry through the further liberalisation of the radio ownership regulations. The move to allow a minimum of two radio operators (in addition to the BBC) to operate in a specific local area was announced yesterday by culture secretary, Tessa Jowell.… Continue reading UK Radio Industry Given Further Deregulation

US media giant, Viacom, is expecting to surpass its earnings estimates for 2003, thanks to a recovery in advertising levels, according to a report on Brand Republic today. The article quotes Viacom’s chief executive, Sumner Redstone, as saying that the current indications bode well for advertising in 2003 and that he believes the market has… Continue reading Viacom Chief Sees Advertising Recovery In 2003

Radio advertising levels at Capital Radio are shaping up to be poorer than expected in November, according to an outlook in the group’s results for the year to 30 September 2002. Capital says that October and November are expected to show an 8% decline in advertising levels and whilst October was already known to be… Continue reading Capital Radio Shares Plummet As Profits And Revenues Dip