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Year end results for Daily Mail & General Trust plc, released today, revealed a 7% drop in profits despite an overall rise in advertising revenues. Adjusted profit before tax was £178 million compared to £192 million for 2000, turnover was up 6% to £1.96 billion. The last two months have seen a sharp decline in… Continue reading DMGT Results Bring No Respite From Ad Gloom

The FT reports this morning that troubled German media company Kirch have held talks with Liberty Media regarding the group’s debts (see Kirch Group Faces Financial Crisis, Say Reports) and possible ways of raising funds in order to meet loan repayments and satisfy demands from shareholders. In November Liberty boss John Malone met Leo Kirch… Continue reading Kirch In Talks With Liberty Media

In its annual report on the UK, the International Monetary Fund (IMF) says that the UK economy has fared better than most in the current global slowdown as a result of a “prudent and predictable fiscal policy”. Unemployment is now at its lowest level for 25 years and Gordon Brown’s recent pre-budget report (PBR) is… Continue reading UK Economy ‘On A Steady Course’ Says IMF

German media giant, Kirch Group, is reportedly facing a financial crisis if the Dresdner Bank calls in a loan repayment, as expected, of around E500 million. The deadline for the loan is officially the end of this year, although credit is often extended. However, the reports suggest that Dresdner will not be allowing an extension… Continue reading Kirch Group Faces Financial Crisis, Say Reports

Vivendi Universal may be able to put together a global cable and television production business, using the entertainment arm of the USA Networks media company, press reports are suggesting today. Jean-Marie Messier, chairman of the French group Vivendi, is said to be in discussions with Barry Diller, his opposite number at USA Networks, about carving… Continue reading Vivendi May Take USA Networks’ Cable And TV Businesses

According to eSpending data from Goldman Sachs, Harris Interactive and Nielsen//NetRatings, the average American spent $77 online in the week following Thanksgiving. Average weekly online spending per person has increased steadily since the beginning of November and the number of internet users who bought online increased to 18% percent for the last week in November,… Continue reading US Online Consumer Spending Rises As Holiday Spending Rush Begins

Regional newspaper publisher Johnston Press has this morning released a pre-close trading update which boasted profits in the ‘top range of market estimates’ and a growth in ad revenue of 1.6%, compared to to the same period 2000. Growth of 3.6% in ad revenue for the period to June 2001, boosted by a 13% rise… Continue reading Johnston Press Bucks Advertising Trend With Positive Growth For 2001

The UK’s largest newspaper publisher, Trinity Mirror, this morning confirmed that advertising conditions have continued to deteriorate since 11 September, with national revenue declines of 10.1% and 20.7% in October and November respectively. The company says that it expects December’s figures to be much the same, losing the company the traditional Christmas boost to ad… Continue reading Trinity Mirror Misses Out On Christmas Bonus

Press reports this morning suggest that Rupert Murdoch is considering a takeover of Germany’s largest commercial TV broadcaster Kirch Gruppe. The FT reports that sources close to Murdoch claim he is keen on making the deal, exploiting the ‘put’ option in his contract with Kirch (see BSkyB To Hold Off Sale Of Kirch Stake, Say… Continue reading Murdoch Rumoured To Be Interested In Kirch Takeover

In its pre-close trading statement, released this morning, European TV group RTL announced that full year earnings were expected to be some 35-40% lower than 2000 totals, due to the increasing deterioration in the European advertising market. Since the group announced interim results in September (see RTL Postpones Float As Results Are Hit By Ad… Continue reading RTL Statement Signals Further Decline In European Ad Market