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Insolvency advisers have selected TF1 and Sony to enter the final stage of bidding for KirchMedia, the bankrupt broadcast and sports rights owner. It had been anticipated that the original list of seven bidders (see Seven Bids In For KirchMedia) would be reduced to three but a collaboration of German publishers, led by Axel Springer,… Continue reading Two Bidders To Compete For Kirch Assets

Reed Elsevier today reported a dip in profits for the first half of 2002 but remains confident that it can reach full-year targets of above market revenue growth. A drop in advertising income led to pre-tax profits falling 3% to £398 million. However, this figure was at the upper end of analysts’ estimates and overall… Continue reading Reed Profits Down 3%, But Outlook Remains Promising

Advertising revenues at the Telegraph Group continued their downward spiral during the second quarter of 2002 as the ailing recruitment market showed no signs of recovery. The Hollinger International Group, which publishes the Daily Telegraph and Sunday Telegraph, announced that advertising income between April and June had fallen 3.8% to £52.7 million, compared with £54.7… Continue reading Telegraph Revenues On The Slide

UK cable group, Telewest Communications, is understood to be meeting with its bank this week to discuss the expected restructure of its £5.3 billion debt burden (see Telewest Moving Closer To Debt Swap Agreement). The Times today reports that £2.25 billion of debt could waived as early as next week, in the first step toward… Continue reading Telewest Debt Waiver Is On The Cards

Media communications and market research network, Aegis Group, has acquired Sample Surveys, one of the largest independently owned custom market research agencies in the UK. Aegis will pay an initial £5.4 million cash, with a deferred consideration of up to £1.8 million, subject to the performance of Sample Surveys over the next three years. The… Continue reading Aegis Acquires UK Market Research Firm

AOL Time Warner yesterday confirmed the appointment of Jonathan Miller as the chief executive of its internet arm, America Online. Miller, a former head of USA Interactive, succeeds Robert Pittman, who stepped down last month after failing to revive the fortunes of the struggling web business (see COO Quits AOL Time Warner). The new CEO… Continue reading AOL Appoints New Online Chief

Lastminute.com, the online retailer, today announced narrowing losses and pledged to achieve profitability in the next quarter. The UK internet company revealed pre-tax losses of £3.9 million for the three months to June, compared with £9.2 million for the same period in 2001. This was also an improvement on the £5.2 million deficit recorded in… Continue reading Lastminute Strives To Get In The Black

In the wake of high profile financial scandals and the alarming fall in share prices, the International Monetary Fund (IMF) has revised down its 2002 growth estimates for the United States. On Monday, the IMF was predicting US economic growth of 2.5% this year and 3.25% in 2003. A leaked copy of the World Economic… Continue reading IMF Revises Down Economic Growth Estimates

World market information group, Taylor Nelson Sofres, has acquired Svenska Gallup, a market information business in Sweden. Svenska Gallup provides customised market information across all industry sectors, as well as opinion and social research and employee related studies. Svenska Gallup turnover for the year ended 30 June 2002 was SEK28.5 million (£1.9 million) and net… Continue reading Taylor Nelson Sofres Expands Into Sweden

The corporate sector has emerged as the early adopter of digital content, according to a new study by researchers at IDC. However, the market remains relatively immature with only 13% of corporations claiming to be using streaming media. About 6% plan to invest in the technology by the end of the year and a further… Continue reading Streaming Media Attracting European Companies, Says IDC