More Media Business articles

Pre-tax profits at SMG, the Glasgow-based media company, dropped by 42.5% to £11.5 million in H1, whilst earnings fell by 9.0% to £31.3 million, the group announced this morning. The figures, which exclude online activities and goodwill amortisation, are in line with the company’s expectations and ahead of predictions by analysts at ABN Amro. SMG… Continue reading SMG Profits Hit By ITV Ad Decline

Pan-European broadcaster, RTL Group, has said that it is not interested in acquiring the 35% stake in the UK’s Channel 5 currently owned by United Business Media (UBM), nor does it wish to buy either of the ITV companies. The group’s position was made clear by chief executive Didier Bellens at a conference call, as… Continue reading RTL Not After ITV Or Remaining C5 Stake

Global market research firm, Taylor Nelson Sofres (TNS), has posted a strong set of first half financial results, with pre-tax profits rising by 10.9% to £19.0 million year on year. Chief executive, Mike Kirkham, said that market conditions have been more difficult than had been expected. Nevertheless, TNS’ business performed ‘resiliently’ in the six months… Continue reading Taylor Nelson Sofres Shows Good H1 Figures, Despite Difficult Markets

One in five Americans consider the internet to be the “most essential” medium in their lives and it is now appreciated as much as television, according to a report from Arbitron and Edison Media Research. Survey results published in “Internet 9: The Media and Entertainment World of Online Consumers”, showed that 34% of respondents believed… Continue reading Web Rivals Television In The Popularity Stakes

As expected, Cordiant Communications chief executive, Michael Bungey, will leave the company in March 2003 and will be succeeded by David Hearn, currently chairman and CEO of the company’s US ad network, Bates Worldwide (see Hearn Expected To Succeed Bungey At Cordiant). The confirmation of Bungey’s departure comes as Cordiant’s first half results show that… Continue reading Bungey’s Departure Confirmed As Cordiant Profits Tumble

Regional newspaper publisher, Johnston Press, has sold the Galloway Gazette and the Stornoway Gazette businesses to Scottish Radio Holdings (SRH) for an undisclosed sum, the group announced this morning. Johnston acquired the businesses as part of its acquisition of Regional Independent Media (RIM) earlier this year (see Johnston Press Acquires RIM Newspaper Business). The Galloway… Continue reading Johnston Press Sells Scottish RIM Papers

UK cable group NTL has been cleared by a US Bankruptcy Court to begin the financial and organisational restructure of the business, which previously sat on top of a £12 billion debt mountain (see NTL Revenues Fall Slightly As Recapitalisation Approaches). The company’s emergence from the US’ Chapter 11 bankruptcy protection will allow it to… Continue reading NTL Is Cleared For Reorganisation

Cordiant Communications is expected to name David Hearn, head of its Bates Worldwide unit, as group chief executive, replacing Michael Bungey, according to a report in the Wall Street Journal. It is expected that Bungey’s departure will be announced tomorrow, along with the group’s financial results (see Bungey Expected To Leave Cordiant Comms). Cordiant has… Continue reading Hearn Expected To Succeed Bungey At Cordiant

Telewest Communications’ planned disposal of its 16.9% stake in Glasgow-based media group, SMG, has been passed by shareholders at the cable company’s Extraordinary General Meeting. Cob Stenham, chairman of Telewest said: “Any disposal of our interest in SMG would form part of our efforts to address the Group’s funding position. We wish to preserve the… Continue reading Telewest Set For SMG Disposal, Denies More Redundancies

Future Network, the troubled games and specialist publishing group, has moved into the black in the first half of this year, with a pre-tax profit of £0.9 million, compared to a loss of £106.8 million for the same period last year. The group describes the first half as demonstrating ‘important progress’. “The business is debt-free,… Continue reading Future Network Moves Into The Black In First Half