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The Football League has proceeded with its threatened legal action against the owners of ITV Digital, launching a £178.5 million claim against Carlton and Granada. The League is seeking a declaration that Carlton and Granada are liable as guarantors for payments totalling £178.5 million owed by ITV Digital (see Football League Battle With ITV Digital… Continue reading Football League Kicks Off Action Against ITV Digital Owners

BSkyB yesterday afternoon exercised its put option with respect to its 22% stake in KirchPayTV in a move that is likely to be the final nail in the coffin for the heavily-indebted media group Kirch. KirchPayTV last week filed for insolvency due to illiquidity and huge debts (see KirchPayTV Files For Insolvency, BSkyB Expects No… Continue reading BSkyB’s 22% Put Option Set To Force Kirch Collapse

The merger of Italian pay-TV platform, Stream, with Vivendi Universal’s (VU) Telepiù (see Vivendi To Buy News Corp’s Stream In Italy, Says FT) has been cleared by the country’s anti-trust regulator. However, the regulatory authority has imposed certain restrictions on the deal that could offer VU an escape route from the deal. Stream is joint-owned… Continue reading Italian Anti-Trust Ruling May Offer Vivendi An Exit From Stream Deal

The global IT market has hit the bottom and is poised for recovery in 2002, according to a new report from IDC. The rebound is attributed to strengthening economic conditions in the United States. However, IDC warns that IT spending growth will remain ‘muted’ by comparison with previous years’ figures before staging a ‘full recovery’… Continue reading IT Market Poised For Recovery, Says IDC

The break up of on- and offline media giant AOL Time Warner will not be recommended by a three-month strategic review of the company, to be presented to the Board this week, according to a report in this morning’s Financial Times. The paper says that there have been calls for the merger between America Online… Continue reading AOL Time Warner Review Will Not Recommend Break-Up, Says FT

Market information group, Taylor Nelson Sofres, is entering into a joint venture with one of Greece’s leading information and consulting services companies, ICAP A.E., the company announced this morning. The joint venture company, to be known as TNS ICAP A.E., will provide market information to clients in sectors including consumer, telecoms, automotive, banking and finance.… Continue reading Taylor Nelson Enters Greek Joint Venture

BSkyB added 171,000 satellite subscribers to its service in the first quarter of 2002, bringing the total to 5.9 million, the company announced in its interim financial results this morning. Sky Digital is now by far the dominant digital, pay-TV operator in the UK in terms of subscriber numbers, following the close of ITV Digital… Continue reading BSkyB Shows Good Growth In Q1, No Plans For Radio Or TV Expansion

The advertising and public relations market place remains ‘very weak’ according to a trading statement from Chime Communications posted this morning. In its preliminary announcement in March, Chime said that market conditions had not improved (see No Recovery Until Second Half Says Chime Communications) and this has continued to be the case for the first… Continue reading Chime Sees ‘Very Weak’ Market Conditions

Chrysalis Radio has outperformed the rest of the radio industry, the group said this morning announcing its interim financial results. Overall radio revenues were flat at £22.7 million for the six months to 28 February 2002. This compares to a 12% decline for the industry over the same period, said Chrysalis. Pre-tax profit swung into… Continue reading Chrysalis Sees Stronger Radio Revenues, Outlook Remains Uncertain

Trinity Mirror said it has pulled out of the deal to sell eight weekly titles to Johnston Press (see Deadline For Johnston/Trinity Decision Extended). Trinity received consent from the Department of Trade and Industry on 3 May to transfer four East Midland local papers the sale of a further four papers was blocked. Consequently, Trinity… Continue reading Trinity Mirror Backs Out Of Sale Of Titles To Johnston Press