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Newspaper advertising has remained tough during the first four months of the year, according to regional and national press publisher Trinity Mirror. The group’s chairman Sir Victor Blank told the company’s AGM that ‘circulation revenue has provided an underlying stable base for the company against a background of an advertising market that, for the first… Continue reading Trinity Sees Tough Ad Conditions In The South

UK satellite broadcaster BSkyB has confirmed that KirchPayTV, in which it holds a 22% stake, has today filed for insolvency due to illiquidity and huge debts. The insolvency comes because KirchPayTV’s investors are now unwilling to offer any more funds whilst the business looks for additional financing. This is despite reports that there were a… Continue reading KirchPayTV Files For Insolvency, BSkyB Expects No Return

Havas Advertising has announced Q1 revenue of E501 million for 2002 representing organic growth of -5.5%. Revenue in Europe fell by -4.7% but the most severe downturn was in North America where revenue fell by -8.2%. Billings amounted to E3.343 billion for the quarter. Advertising brought in E183.7 million in Q1, a drop of 8.1%… Continue reading Growth At Havas Falls In Line With Forecasts

The Guardian Media Group (GMG) has made a takeover offer for Jazz FM, the radio station confirmed this morning. GMG has tabled a £41 million offer for Jazz, representing 180p per share – a 30% premium on Friday’s closing price of 139½p. The offer has not yet been fully accepted and the Board of Jazz… Continue reading Guardian Media Group Makes £41m Offer For Jazz FM

Telewest Communications, the heavily indebted UK cable company, this morning said that net loss for Q1 2002 fell by 21% to £166 million on the back of EBITDA up 34% to £91 million. It is also planning a radical restructure in order to bring about cost savings. Total turnover for the quarter ended 31 March… Continue reading Indebted Telewest Begins Reorganisation

Trading conditions in the US technology publishing market remain challenging with no sign of any improvement, United Business Media (UBM) said this afternoon. In its AGM statement, the company said that its overall financial performance and outlook remain similar to the position outlined at the beginning of March (see UBM Shares Fall As Profits Are… Continue reading Tough Conditions In US Hi-Tech Continue, Says UBM

Net loss at French media group Vivendi soared from E183 million in Q1 2001 to E17.0 billion for the first quarter of this year, according to the company’s financial results. Revenues came in at E13.2 billion, up from E11.3 billion last time. The results follow better than expected figures at Vivendi’s Media & Communications last… Continue reading Vivendi Universal Losses Soar In Q1 2002

Channel 4 has revealed the extent to which it was bitten by the advertising downturn last year. Its Annual Report and Financial Statement for 2001 reveals a year on year group loss after tax of £20.6m, despite the fact that group turnover increased by 2% to £731m. The statement points out that with 85% of… Continue reading Ad Downturn Hits Channel 4 Revenues

The administrators of ITV Digital have today confirmed that they will be closing the pay TV operation of the company this evening. In a statement released this afternoon, Deloitte & Touche said that “Insufficient interest has been shown from prospective purchasers to justify a continuation of the operation”. It is thought that the free to… Continue reading Administrators Switch Off ITV Digital

The Wireless Group has this morning posted pre-tax loss for the year ended 31 December 2001 down by 70.5% to £10.1 million, adding that its bank debt has now been paid off. Operating loss at the group fell by 31.4% to £10.5 million on turnover up 5.6% at £31.1 million. Demand begins to pick up… Continue reading Local Revenues Help Buoy Wireless Group Figures