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Carlton and Granada could re-open merger talks within the next few weeks following speculation that Carlton chief executive, Gerry Murphy, is leaving the company. According to a report in today’s Guardian, Granada chairman, Charles Allen, is expected to push for the consolidation of the two ITV companies if Murphy leaves to take the top job… Continue reading Carlton And Granada Merger Talks Could Be Back On

Express Newspapers owner, Richard Desmond, is considering a bid for Virgin Radio, according to a report in yesterday’s Observer newspaper. It is understood that Desmond has discussed the possible acquisition with the Board of his company, Northern & Shell (N&S), although a bid is not thought to be imminent. Analysts believe that N&S might lack… Continue reading Richard Desmond Eyes Virgin Radio, Say Reports

The Italian Government has said that it is not concerned that the merger of pay-TV operators Stream and Telepiù will created a monopoly in the market (see News Corp Completes Telepiu Transaction). Telepiù is being acquired by Rupert Murdoch’s News Corporation for E920 million and will be merged with News Corp’s Stream division to form… Continue reading Italian Government Sees No Problem With Murdoch Monopoly

AOL Time Warner chairman, Steve Case has vowed to become more involved in the running of the corporation as it looks to emerge from a difficult year. There had been widespread speculation that the falling share price, allegations of accounting malpractice and the slowing growth of the America Online internet unit had made Case’s position… Continue reading AOL Chief To Take More Active Role

Deutsche Telekom has received four bids for its cable television assets, all of which are below the troubled company’s expectations, according to an article in today’s Financial Times. The paper reports that the values of the bids range from E2.0 billion to E2.3 billion; Deutsche Telekom had hoped to raise between E2.5 and E2.8 billion… Continue reading Deutsche Telekom Cable Offers Are Below Expectations

Deutsche Bank will next week auction off a 40% stake in Axel Springer which publishes the prominent German newspapers, Bild and Die Welt. The bank has taken responsibility for the stake from Kirch Media which has been unable to repay loan debts after falling into bankruptcy earlier this year (see KirchMedia Files For Bankruptcy Signalling… Continue reading Axel Springer Stake Up For Sale

Emap has confirmed that Hachette Filipacchi is to keep hold of the glossy women’s monthly, Red after a £17 million deal was thrashed out between the two publishers. Emap insiders have suggested that the group was keen to maintain control of Red, and had increased its offer to Hachette several times in an attempt to… Continue reading Emap Sells Stake In Red Magazine

Following protracted negotiations, Rupert Murdoch’s News Corporation has agreed to buy Telepiù, the loss-making Italian pay-TV operator, from Vivendi Universal for E920 million (£580 million). Speaking at a conference in New York yesterday, Murdoch said that Telepiù was “a world class property in an untapped market without cable competition.” News Corp will take an 80%… Continue reading News Corp Completes Telepiu Transaction

UPC has filed for bankruptcy protection in the US and Netherlands ahead of a debt for equity swap designed to secure the future of Europe’s largest cable TV company. Financial restructuring is expected to result in UnitedGlobalCom, a subsidiary of Liberty Media, increasing its share of the company to 65.5%. UPC’s remaining bondholders will retain… Continue reading UPC Files For Bankruptcy

Telewest Communications, the struggling UK cable firm, has reached an agreement with bondholders to eradicate £3.5 billion of its £5.3 billion debt in return for 97% of the company’s shares. It has also deferred the repayment of £68 million of interest on bonds as it seeks further approval from investors. The debt for equity swap… Continue reading Telewest Agrees £3.5 Billion Debt Deal