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Advertising network, Interpublic Group, last night sent tremors through Wall Street and the New York Stock Exchange, after indicating that its 2002 earnings will be much lower than had been anticipated. To add to its woes, Interpublic, the world’s second largest network of advertising companies, is also implicated in America’s recent flurry of corporate accounting… Continue reading Interpublic Earnings Warning Shocks Markets

The optimism that permeated the UK advertising industry earlier this year appears to have diminished with marketing budgets being revised downwards for the first time since Q4 2001. The Bellwether Report from the IPA indicates that confidence among media and marketing professionals has declined in the last three months. However, the third quarter is traditionally… Continue reading Insight Analysis – Has The Bell Tolled For Ad Recovery?

David Montgomery’s venture capital-backed bid for SMG’s Herald and Sunday Herald publishing business is understood to be out of the running, possibly because the tabled offer was too low. If the reports are correct, the 3i Group-backed bid from former Mirror Group chief executive Montgomery will be the third major bidder to drop out of… Continue reading Montgomery May Be Out Of Herald Papers Bid

Shares in Reuters, the financial information group, plunged to a twelve year low this morning after the company revealed disappointing results for the third quarter. Total revenue fell 7% from £924 million to £857 million, with Instinet, the group’s electronic share trading service suffering a 25% drop in sales in the three months to September… Continue reading Reuters Stock Sinks Following Profits Warning

The creation of a single ITV company took another step forward this morning, as its proponents, Carlton and Granada, announced further details of an agreed merger plan (see Carlton And Granada Enter Advanced Merger Talks). The two companies claim that a single ITV entity will “help to create a virtuous circle of maximising investment in… Continue reading Carlton/Granada Move Closer To £2.6bn Single ITV Company

The quarterly Bellwether report from the IPA has dampened hopes that the marketing communications industry might see an early recovery by revealing that the majority of advertisers surveyed revised down their marketing budgets during the third quarter of 2002. The report, which gauges the opinion of more than 200 of the UK’s top advertising agencies,… Continue reading IPA Report Dampens Hopes Of Early Recovery

Granada, which last week announced plans to merge with fellow ITV powerhouse, Carlton (see Carlton And Granada Enter Advanced Merger Talks) has indicated its intention to take full control of Ireland’s TV3, according to a report in today’s Independent. The Irish commercial broadcaster is part-owned by Granada, CanWest Global Communications and a group of investors… Continue reading Granada Seeks To Increase Influence In Ireland

Charles Allen, chairman of Granada, has reportedly pledged to radically overhaul ITV and to revitalise the network’s programme making arm if its merger with Carlton gets the go ahead (see Carlton And Granada Enter Advanced Merger Talks). According to yesterday’s Observer, Allen, who will become chief executive of ITV if the two companies are allowed… Continue reading Granada Chief Vows To Overhaul ITV

Haymarket, the magazine publisher owned by Lord Heseltine, has announced a loss of £7.2 million for 2001. While turnover was unchanged at £161 million, pre-tax profits slipped from £30.8 million in 2000 to £20.4 million last year. The company cited the advertising recession as the primary reason for the decline, with the business-to-business sector suffering… Continue reading Haymarket Profits Hit By Advertising Downturn

Carlton and Granada have finally announced that they have entered into advanced merger talks, which could lead to the creation of a single ITV. The news ends months of speculation about the future of the network, which has been hard hit by the ongoing advertising downturn and the departure of chief executive Stuart Prebble following… Continue reading Carlton And Granada Enter Advanced Merger Talks