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Regional Independent Media today reported a rise in profits of 8%, rising to £44.1 million in 2001 from £40.9 million in 2000. Turnover increased by 3.5% to £175.3million. 84% of turnover was derived from the group’s newspaper interests, including the Yorkshire Post and Sheffield Star both of which saw an increase in circulation in 2002.… Continue reading RIM Exceeds Expectations But 2002 “Remains Uncertain”

Pearson has this morning confirmed that, having received several expressions of interest in FT Business, it has appointed investment Lazard to advise on the sale. The FT Business portfolio includes Investors Chronicle, The Banker, Money Management and Financial Adviser in the UK but does not include the FT or Pearson’s 50% stake in The Economist.… Continue reading Pearson Puts FT Business Up For Sale

According to press reports this morning the ever-acquisitive WPP has approached advertising agency Leagas Delaney about a possible take over. WPP CEO Sir Martin Sorrell is thought to have approached the Leagas board with the intention of bringing in into the WPP fold as the headquarters of the Red Cell Network. The deal would provide… Continue reading Sorrell Eyes Leagas Delaney

NTL today announced yesterday that it has signed an agreement with Macquarie Bank to sell its Australian broadcast business for A$850 million in an all cash transaction. NTL Australia covers 98% of the terrestrial broadcast population in Australia from 578 sites located across the country. For the year ended December 31, 2001, NTL AustraliaÂ’s revenues… Continue reading NTL Sells Off Australian Broadcast Business

Europemedia reports that space on the current generation of the internet will run out by around 2005 unless the European Union states speed up plans to roll out a new IP version, according to a recent European Commission report. The report claims that the development of internet protocol version 6 (IP6) would further boost Europe’s… Continue reading Internet Will ‘Run Out Of Space’ In 2005, Says New EC Report

Cable and Wireless yesterday issued a trading update ahead of its full year results forecasting that the group’s revenues will fall by 10%. Cable & Wireless chief executive, Graham Wallace, said: “Despite a backdrop of continuing difficult market conditions expected to contribute to a 10% decline in Cable & Wireless Global’s revenue, we are achieving… Continue reading Cable & Wireless Warns On Profits Ahead Of Results

The Competition Commission (CC) will now have until 19 April to report on the proposed acquisition by Johnston Press of eight Trinity Mirror newspaper titles, it was announced today. The Commission had previously been due to report on the takeover tomorrow (see Regulator Questions Johnston’s Latest Acquisition). The CC requested an extension to the investigation… Continue reading Commission Considers Trinity’s Acquisition Of Johnston Press Titles

Reed Elsevier released full year results for 2001 today which revealed that heavy internet investment is beginning to pay off. Revenues for 2001 were up 21% to £4,560 million with adjusted pre-tax profits up 23% to £848million. Underlying revenue rose by 3%, overall operating margins were 1% higher at 22%and operating cashflow conversion was strong… Continue reading Reed Delivers Strong Results And Reaffirms Growth Expectations For 2002

The proposed £50 million merger between internet research group NetRatings and its main rival Jupiter Media Metrix has collapsed following opposition from US anti-competition authorities, it has emerged. NetRatings, which is 64% owned by VNU, announced last October that it planned to acquire Jupiter MMXI’s global operation and integrate it with its own online research… Continue reading £50m Internet Measurement Merger Collapses

The FT reports this morning that debt-laden German media group Kirch has begun the sell off of key assets in order to satisfy demands from its creditors. This includes Formula One, 58% owned by Kirch, which was sold by Bernie Ecclestone to Kirch for £1 billion. It is now thought that the Formula One magnate… Continue reading Kirch Sell Off Begins