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Jazz FM and Guardian Media Group (GMG) have reached an agreement following a revised takeover offer from GMG for the radio station, the two groups announced yesterday evening. GMG had previously tabled an offer of 180p per share, or £41 million, but the Jazz FM Board had urged its shareholders to take no action with… Continue reading Jazz FM Agrees To £44.5m Takeover By Guardian Media

Press reports today have suggested that EMAP is considering spinning off its radio interests into a separate business. This may pump up its market rating ahead of a relaxation of ownership rules and the subsequent consolidation in the radio industry. EMAP is primarily a magazine publishing group and because consumer press is a slower growth… Continue reading EMAP Radio Business Spin-Off Speculated By Reports

Two-thirds of European firms will either cut IT spending or leave it unchanged in 2002, but nevertheless expect their budgets to be 13% higher in three years, according to a new report from Forrester Research. Almost three-quarters (72%) said they had encountered new, specific pressure to reduce IT costs; one in four respondents had delayed… Continue reading European Firms To Cut IT Spend In 2002

Independent News & Media (INM) this morning said that it is ‘cautiously optimistic’ that 2002’s results will show an improvement on those achieved during the past year. The group publishes the Independent national newspaper in the UK and has other print, outdoor and broadcasting interests across the world, notably in Ireland, New Zealand and Australia.… Continue reading Advertising Shows More Consistency, Says Independent

Upfront television sales in the US indicate that the advertising market there is improving, according to an analysis of network figures by ABN Amro. NBC has confirmed that it has sold all of its prime time inventory and has won forward commitments valued at $2.7 billion, up from $800 million in 2001, according to the… Continue reading US Upfronts Indicate Recovering Market

Ulster Television (UTV) significantly outperformed the ITV Network during the calendar year, despite the period representing the ‘worst advertising downturn in living memory’, chairman John McGuckian will tell the company’s AGM today. UTV ended the year on a record share of ITV advertising, according to the statement. In Q1 2002, ITV’s ad revenues were down… Continue reading Ulster TV Outperforms ITV, But Outlook Remains Unclear

Pre-tax profits at the Daily Mail & General Trust (DMGT) fell by 9% to £65.2 million in the half-year ended 31 March 2002, the group announced this morning. Turnover fell by 1% to £950.0 million. DMGT says that weaknesses in the world’s principal economies have had an negative impact on most advertisers. “The downturn has… Continue reading DMGT Profits Dip 9% In First Half

Interim results released by Granada this morning revealed net advertising revenue down 12% for the first half of 2002 and the company said that the market outlook remained unclear. Advertising revenues are set to rise for May (14%), June (7%) and July (6%), thanks to the boost in advertising provided by the World Cup. Granada… Continue reading Granada Profits Hit By Ad Downturn, No Outlook Beyond July

United Business Media’s US high-tech publishing division, CMP Media, has published advertising data for April which show volumes down 20.7% compared to a market down 36.1%. This is the latest in a trend of decline for the US technology publishing advertising market which has seen volumes fall by 41.1% in the year to date; CMP’s… Continue reading CMP Outperform High-Tech Market, But Ad Volumes Down 21% In April

UK magazine and website publishing group, Future Network, has cleared its debt burden, chairman Roger Parry told the company’s AGM this morning. The news follows a tough financial period for Future which was forced to close publications and reduce headcount in order to make cost savings (see Games Mags Recovery Could Drag Future Out Of… Continue reading Future Network Shakes Off Debt