More Media Business articles

“British firms are guilty of taking a short-term, quick fix approach to cost-cutting, characterised by investment cuts, recruitment freezes and staff layoffs,” according to a new global study from PricewaterhouseCoopers, published today. Demonstrating the short-termism in British business’ actions, the research reports that two-thirds (66%) of UK chief financial officers – the highest in the… Continue reading British Firms Guilty Of Short-Termist Cost Cutting, Finds PWC Survey

According to reports in this morning’s press, ITV Digital may be closed as soon as next Monday unless Carlton and Granada pledge more money to keep the service afloat. Figures released to the Football League by the High Court, as part of their attempt to recover rights money owed by ITV Digital, supposedly reveal that… Continue reading ITV Digital Could Be Closed By Monday

NTL may avoid forced liquidation (see NTL May Take Temporary Bankruptcy As Refinancing Is Finalised), according to report on FT.com today, which claims that the indebted cable group could sign a deal with its bondholders as early as this week. The paper reports that a debt-for-equity swap with the bondholders is now on the table;… Continue reading NTL Is Close To Refinancing, Says Report

Reed International and Elsevier NV chairman, Morris Tabaksblat, this morning told the Reed Elsevier AGM that trading conditions have changed very little since the group released its financial results in February (see Reed Delivers Strong Results And Reaffirms Growth Expectations For 2002). Tabaksblat reiterated the double-digit earnings and revenue market-outperformance targets for the Anglo-Dutch publishing… Continue reading Little Change In Trading Since February, Says Reed Elsevier

Kirch Media has today filed a bankruptcy order with the German courts following months of financial malaise and increasing pressure from banks and investors (see Kirch Sell Off Begins). Last ditch attempts to rescue the company including talks with minority shareholders Rupert Murdoch and Silvio Berlusconi, from insolvency have failed. Kirch Gruppe’s debts are thought… Continue reading KirchMedia Files For Bankruptcy Signalling The Demise Of The Kirch Empire

Spending on eBusiness technology will drop from an average of 3.5% of revenue in 2001 to 3% in 2002 according to Forrester. The researcher surveyed 900 firms globally and found that average 2002 eBusiness technology budgets are $29 million compared with $41 million in 2001. “Most companies will curb the number and types of technology… Continue reading eBusiness Spending Will Fall In 2002, Says Forrester

Following the financial crisis at Kirch Gruppe (see Kirch Sell Off Begins), the German government is to step in in order to protect the German football league from insolvency. In a situation eerily similar to the collapse of ITV Digital and the repercussions for the English league, KirchMedia is unable to honour payments due to… Continue reading German Government Will Step In To Save Football League

In a meeting with FA officials yesterday, football league chairmen decided that there should be no compromise on the £89.25 million payment expected by the league from ITV Digital in August. Following ITV Digital’s announcement that they would honour a £20 million payment owed to the Premiership in lieu of broadcast rights, the FA chairmen… Continue reading Football League Battle With ITV Digital Continues

A US Court Of Appeals has ruled that the Federal Communications Commission’s ‘8-voices’ ownership rule is ‘arbitray and capricious’, according to a report on Mediaweek.com. The 8-voices rule was established in August 1999 and prevents television operators from running duopolies and local marketing agreements in markets where there are less than eight voices. The Court… Continue reading US Court Brands 8-Voices Ownership Rule ‘Arbitrary And Capricious’

The refinancing and debt reduction plans of telecommunications company NTL are thought to be progressing well, with details of a structure set to be announced within weeks, according to a report on today’s Financial Times website. NTL has appointed Credit Suisse First Boston, JPMorgan and Morgan Stanley to advise on a recapitalisation structure and reduction… Continue reading NTL May Take Temporary Bankruptcy As Refinancing Is Finalised