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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

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

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

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

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

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

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