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Culture Secretary Tessa Jowell has spoken in the House of Commons this morning about the collapse and imminent sale of ITV Digital. She confirmed that the sale will go ahead saying that “the usual commercial processes must take their course”. ITV Digital subscribers will continue to receive free-to-air services although pay TV services “will last… Continue reading Jowell Laments Demise Of “Brave Commercial Enterprise”

In a trading update released this morning Pearson has revealed that advertising revenue across the Financial Times group has been ‘significantly lower’ for the first four months of this year, compared to 2001. In March, Pearson warned that the ad market would remain flat in 2002 (see Ad Market In 2002 Will Be ‘Flat’ Says… Continue reading FT Revenue Decline Hits Pearson Profits

In a statement released this afternoon, the administrators of ITV Digital have confirmed that they are offering the business and assets of the company for sale with immediate effect. They confirmed that they have not been able to secure additional funding “on terms that would enable them to commit to a long-term sale process”. In… Continue reading Administrators Confirm ITV Digital Sale

Viacom has reported Q1 revenues of $5.67 billion as compared with $5.75 billion for the same period 2001. The company’s first quarter 2002 performance was led by higher results in its Cable Networks, Video and Entertainment segments. Viacom chairman and CEO, Sumner Redstone said; “ViacomÂ’s first quarter results highlight the breadth and diversity of our… Continue reading Viacom Predicts Q2 Revenue Growth

Vivendi chief executive Jean-Marie Messier survived his company’s AGM meeting yesterday afternoon, despite calls from minority shareholders and staff at Canal+ for his resignation (see Troubled Times For Vivendi’s Messier). As expected the Vivendi board backed Messier and it is thought that he was able to convince shareholders that he has full control of company.… Continue reading Messier Holds Position At Vivendi As Figures Beat Expectations

Massive first quarter losses at AOL Time Warner, $54.24 billion or $12.25 a share, were partially offset by gains at Warner Bros thanks to films such as Harry Potter and The Lord Of The Rings, enabling the company to beat analyst projections. The weak online advertising market contributed to a fall of 13% in total… Continue reading Box Office Success Offsets AOL Time Warner Losses

Highbury House Communications released a trading statement this morning ahead of its AGM which revealed that the company is on target to achieve market forecasts for 2002. The company said that trading had improved “progressively after a slow start to the current year, reflecting a significant improvement on the trading conditions that we experienced in… Continue reading Highbury House On Target To Meet 2002 Forecast

I Feel Good (IFG), the magazine publishing group run by former Loaded editor James Brown, has narrowed its pre-tax losses to £1.4 million for 2001, down from £1.8 million in 2000. Sales for the period were £4.2 million, compared to £0.7 million last time. Jack launched today The group has launched a new men’s title… Continue reading Loss Narrows At IFG As New Mag Is Launched

Loss-laden French media group, Vivendi, is to announce its Q1 headline figures this afternoon, after unveiling a full-year loss of E13.6 billion in March (see Write-Offs Push Vivendi £8.3 Billion Into The Red). According to predictions by analysts at ABN Amro, Vivendi will today reveal Q1 revenues up 6.9% to E6.3 billion and earnings up… Continue reading Troubled Times For Vivendi’s Messier

Following weeks of speculation by the media and consternation on the part of the Football League, administrators announced yesterday that ITV Digital is to be sold off as a going concern. In a statement released yesterday evening, Deloitte & Touche announced that “it has not been possible to restructure the cost base of ITV Digital”… Continue reading ITV Digital To Be Sold As ‘Going Concern’