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Comcast has won the battle to merge with AT&T, to create the US’ largest broadband cable provider. The deal, announced last night, ends months of negotiations and sees Comcast emerge victorious over rival bidder AOL Time Warner. The deal is valued at around $7.2 billion, according to reports, and the Comcast AT&T group will reach… Continue reading Comcast And AT&T Finally Seal Merger

French media group Vivendi Universal (VU) has reached an agreement to buy the Italian pay-TV platform, Stream, from News Corp, according to a report in the Financial Times. The paper reports that VU will pay $390 million for the business. In principle, Stream will be merged with Vivendi’s Telepiu business, although the Italian regulation authorities… Continue reading Vivendi To Buy News Corp’s Stream In Italy, Says FT

Publishing company, Highbury House Communications, says that it has experienced a slowdown in advertising revenues in the final quarter, after earlier indications were that revenues were running at ‘acceptable’ levels. Both advertising and newsstand revenues have been softer following the events of 11 September, according the company’s trading statement released today. As a result, profit… Continue reading B2B Slump Catches Up With Highbury House

Rumours yesterday that global advertising network Publicis is looking to acquire the world’s ninth largest advertising and marketing agency, Cordiant, have this morning been denied by both parties. Analysts at ABN Amro said that whilst the deal made some financial sense, it was unlikely to transpire, not least because Cordiant is currently a ‘relatively low… Continue reading Publicis’ Interest In Cordiant Denied

Pearson, owner of the Financial Times, has this morning issued its second profits warning in two months (see Pearson Warns That FT Profits May Fall By 40%). The company said that profits from its education operations could be as much as $51 million lower than expected due to a slowdown in the Latin American market… Continue reading Pearson Warns On Profits Seeing ‘No Material Recovery’ In Ad Market

The Office of Fair Trading (OFT) today announced that it plans to make a ruling the BSkyB has behaved in an anti-competitive way, infringing on UK competition law. The OFT launched its investigation into BSkyB a year ago (See BSkyB Faces OFT Investigation), now BSkyB has the opportunity to address the charges levied at it.… Continue reading OFT Proposes Ruling Against BSkyB

New research by Statistical Research has found that a relationship of parallel growth occurs in households with the internet, computers and television. Rather than increasing spending on one to the detriment of others, the 2001 Ownership Report, part of The Home Technology Monitor™, reveals that households with multiple PCs or internet access are more likely… Continue reading PC Households Spend More On Home Entertainment

French media group Vivendi Universal (VU) today announced that it is to acquire the entertainment assets of USA Networks in a deal worth £10.3 billion. VU will have 93% control of the new company, Vivendi Universal Entertainment (VUA), which will bring together Universal Studios Group and the USA business. Vivendi will pay USA Networks around… Continue reading Vivendi Consolidates US Position With New Acquisition

Vivendi Universal (VU) yesterday sold a third of its stake in BSkyB, leaving it with a 15% share in the satellite television company. It is thought that the money raised from the sale, around £1 billion, will be used to fund further acquisitions by VU. Vivendi’s decision not to offload all its interests in BSkyB… Continue reading Vivendi Offloads BSkyB Shares

United Business Media (UBM) is expecting revenue and profits to finish the year in line with expectations, despite the difficult market conditions. In a pre-close trading statement issued today, chief executive Clive Hollick said the company had achieved a “satisfactory performance in an exceptionally tough year,” adding that, the ‘significant reduction’ in UBM’s cost base… Continue reading UBM Says Profits Will Be As Expected