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Outdoor advertising contractor, JC Decaux, has this morning announced third quarter revenue increases of 11% to E360 million thanks to a strong performance from its Street Furniture division. Revenues for the three months to September were in line with company expectations and rose on a like-for-like basis (excluding acquisitions) by 1.9%. Street Furniture revenues increased… Continue reading JC Decaux Announces Q3 Revenue Increase Of 11%

WPP has announced that its offer for Tempus has been extended to midnight on 12 November 2001. WPP is currently awaiting the details of the Takeover Panel’s decision not to allow it to withdraw its offer (see Takeover Panel Rejects WPP Appeal) before deciding whether or not to continue with the appeal process.

Reuters reports that following the 11 September attacks in the US, the major TV networks there – ABC, CBS and NBC – lost a combined $880 million in advertising revenue for the third quarter. This represents a 28.6% decline on Q3 2000. The figures, which come from the Broadcast Cable Financial Management Association, represent the… Continue reading US TV Networks Lose Record $880m In Q3 Ad Revenue

The Wireless Group (TWG) is to finance the repayment of its remaining bank debt through the sale of Wave 105 FM to Scottish Radio Holdings (SRH) for £18.0 million. Following the disposal, TWG will be left with a cash balance of £1 million. The move follows the £25.5 million sale of Scot FM to the… Continue reading Wireless Group Offloads Wave 105 To Scottish Radio In Debt Clearance

The Government has reportedly shelved plans to pay for millions of people to switch to digital TV, fuelling speculation that the current 2006-2010 deadline for the switchover will not be met. A report in today’s Financial Times claims that a scheme enabling millions of UK households to go digital was abandoned by the Government last… Continue reading Digital Deadline Thought ‘Optimistic’, Says FT

Q3 results from BSkyB released today reveal revenue increases of 24% and net subscriber growth of 190,000 bringing BSkyB’s DTH subscriber total to 5.49 million. Pre-tax losses for the period fell to £89 million, compared with £123 million for the same period last year. Turnover rose 23% to £642.7 million (from £520.3 million) and earnings… Continue reading BSkyB Losses Fall As Subscriber Growth Continues

The US hi-tech publishing advertising market continued to deteriorate throughout September, according to the latest in a series of updates (see Hi-Tech Ad Volumes Show Further Deterioration In US, According UBM) from United Business Media (UBM) this morning. UBM’s interest in this area comes through its hi-tech publishing group CMP Media. During the month CMP… Continue reading Hi-Tech Advertising Deterioration Continues, Hammering CMP Media’s Profits

After hearing WPP’s appeal yesterday, the Takeover Panel have again refused to allow the company to withdraw their 555p-a-share offer for Tempus. The full Panel met to hear Sir Martin Sorrell’s appeal, thought to centre around Tempus’s reluctance to provide WPP with key financial reports, after the Panel Executive dismissed WPP’s original request last week… Continue reading Takeover Panel Rejects WPP Appeal

Independent News & Media (INM), the company which owns the Independent newspaper in the UK, is to sell its New Zealand news publishing operation Wilson & Horton to APN News & Media for NZ$1,500 million (€690 million). INM itself owns a 40% stake in APN. The restructuring will create one of the leading media companies… Continue reading Independent News & Media Sells New Zealand Publishing Group

According to press reports this morning WPP may engage in a legal challenge to overturn the decision of the Takeover Panel with regards to the attempted withdrawal of its bid for Tempus (see Takeover Panel Rules Against WPP). WPP chief executive Martin Sorrell is to face the full panel this week in order to put… Continue reading WPP May Consider Legal Action Over Tempus Bid