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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

United Pan-Europe Communications (UPC) has today announced that the release of full-year results for 2001 will be delayed by a further two weeks in order to finalise “the appropriate accounting treatment of certain interest rate cross currency hedging agreements in the wake of UPCÂ’s default on its public debt on March 3rd 2002” The Dutch… Continue reading UPC Results Delayed

As we head into Q2 2002, the extent of the economic and advertising downturn is really making itself known. UK media companies are struggling with the twin curses of heavy debt and falling ad revenues. ITV Digital is to be sent to the administrators (see End For ITV Digital Confirmed), whilst NTL is struggling to… Continue reading Insight Analysis: Media Healthcheck – March 2002

Scottish Radio Holdings (SRH) has released a trading update prior to the end of its half year on 31 March. The company indicated that while a decrease in group revenues is expected, its focus on local media has protected it from the full force of the media downturn. SRH’s revenue is expected to show a… Continue reading SRH Expects 3% Decrease In Interim Revenues

Maiden Group this morning released full year results for 2002 revealing a decline in underlying sales although the company still outperformed the outdoor market. Outdoor sales revenue was £80.3 million, a slight increase on 2000 totals of £80.2 million. Underlying outdoor sales were down 0.8%, compared to decline in outdoor market of 2.8%. Maiden said… Continue reading Maiden Anticipates ‘Gradual And Measured’ Recovery In 2002

Carlton and Granada have confirmed that an application has been made to the High Court for an administration order to be made in relation to ITV Digital. Deloitte & Touche, called in to review the group’s financial situation, will be appointed as administrators, as expected (see ITV Digital Requires ‘Urgent Fundamental Restructuring’ Say Owners). A… Continue reading End For ITV Digital Confirmed

GWR today released a trading update for the year ending 31 March 2002. In January the group announced that like for like revenues for the UK were down by 10.8% year on year for the quarter to 31 December 2001 (see Trading Updates Offer Little Hope To Radio Industry). For Q1 2002, GWR anticipates that… Continue reading GWR Sees ‘Some Improvement’ In UK Radio Market

According to a new report from GartnerG2 the apparent recovery in the US economy “looks good now, but [it] will be short-lived”. The latest economic data, says Gartner, reflects “rebuilding of inventoryÂÂ-not renewed economic activity or an increase in fundamental demand”. Revised figures from the US Department of Commerce show Q4 economic growth figures of… Continue reading Recovery ‘Isn’t Here Yet’ Says Gartner

Publishing group EMAP says that it is taking a cautious view of the advertising marketplace and is planning for just ‘modest’ revenue increases for the coming year. In a trading statement for the year to 31 March 2002, the company this morning said that forward advertising bookings are showing some improvement on Q4 2001 –… Continue reading EMAP Says Consumer Mags Revenue Stable, Radio Remains Weak