More Media Business articles

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

The Daily Mail & General Trust, publisher of the Daily Mail, is to remain family controlled, according to its chairman Viscount Rothermere. According to a report in today’s Times newspaper, Rothermere has no intention of changing the company’s controversial share structure that gives his family control of the voting rights. He asked: “Why should the… Continue reading Daily Mail & General Trust To Remain Family Owned

The publishing assets of SMG which were put up for sale earlier this month (see SMG To Sell Publishing And Online Business), have attracted considerable interest from the UK’s prominent newspaper groups but many analysts believe that the company’s valuation is excessive given current market conditions. SMG has decided to concentrate its attention on television… Continue reading Publishing Giants To Compete For SMG Titles

Outdoor advertising contractor, Maiden Group, said that sales declined by 5.1% in the six months to 30 June 2002, pushing the group into the red. Pre-tax loss for the period was £2.3 million, down from the £2.2 million profit of the same period last year. However, things are starting pick-up, with a ‘slow but steady’… Continue reading Maiden Pushed Into Red By Tough First Half

The business community is yet to be inspired by high-speed internet connections with the result that UK companies account for just 30% of ADSL services, according to a new report from Oftel. The telecoms regulator also found that under one in ten SMEs have taken up broadband. This is partly due to the fact that… Continue reading UK Companies Remain Cool On Broadband

Airtime revenues at GWR Group are forecast to be flat for the six months to 30 September, slightly behind the trading at Capital Radio, which saw a rise of 2% over the same period (see Capital Radio Sees 2% Revenue Decline, Tarrant Stays). In a trading statement today, GWR says that UK like for like… Continue reading GWR Revenues Stay Flat In First Half

The troubled media giant, Vivendi Universal has vowed to look to the future as it bids to reduce the huge debts built up by former chief executive, Jean-Marie Messier. Current boss Jean-René Fourtou has committed the company to an asset disposal programme that is designed to raise E12 billion over the next eighteen months. He… Continue reading Vivendi Unveils Asset Disposal Plans

Like for like airtime revenues at Capital Radio are expected to rise by 2% during the six months to 30 September, the group announced in a trading statement this morning. Revenues were down 7% in the six months ended 31 March and, accordingly, the group expects revenues to be down by 2% for the year… Continue reading Capital Radio Sees 2% Revenue Decline, Tarrant Stays

As expected, Chrysalis Radio has this morning announced the acquisition of London News Radio (LNR) from rival GWR Group for £23.5 million (see Chrysalis To Swap Galaxy 101 For London News Radio). The acquisition of LNR, which operates the LBC and NewsDirect stations, will strengthen Chrysalis’ position in the key London market, increasing the group’s… Continue reading Chrysalis Takes GWR’s LNR And Sells Galaxy 101