More Media Business articles

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

According to Forrester Research, declines in the tech sector will arrest during Q3 2002 and an upturn will begin in 2003. However, double-digit rises will not be visible until 2004 when growth will reach around 12%. “Forrester estimates that 12% of the IT sector’s volume in 2000 represented overspending, which amounts to a hefty $62… Continue reading Tech Market Will Recover In 2003, Says Forrester

In its Q3 results, Vivendi Universal, revealed an upbeat outlook despite the gloomy ad climate which currently prevails. The company, Europe’s largest media group, has beaten Q3 forecasts and is on track to meet full year expectations. Q3 fell in line with the market; organic earnings before interest, tax, depreciation and ammortisation (EBITDA) grew by… Continue reading Vivendi On Track To Meet 2001 Earnings Targets

WPP has again extended its acquisition offer for UK media buying group Tempus, as the Takeover Panel considers the company’s appeal against the dismissal of the Material Adverse Change clause it was hoping to invoke (see Takeover Panel Rules Against WPP). WPP was hoping to withdraw from the agreed takeover offer on the grounds that… Continue reading WPP Extends Tempus Offer As Appeal Is Considered

German media group, Bertelsmann, may be interested in making a takeover bid for the UK’s Carlton Communications, according to a report in yesterday’s Observer newspaper. The article claims that the two companies have held ‘informal discussions’ recently, but that there are no ongoing negotiations. Bertelsmann is currently prevented from tying up with the ITV giant,… Continue reading Bertelsmann Looks At Carlton Merger, Says Report

Rupert Murdoch has walked away from what many considered the ‘dream’ deal of his career – one which would have made him the greatest TV mogul ever, reaching more people in more countries than anyone else in history. For the past six months Murdoch’s News Corp has cogitated, negotiated and restructured in order to engineer… Continue reading Murdoch Walks Away From ‘Dream’ DirecTV Deal

Rupert Murdoch, frustrated by delays and months of torturous negotiations, has walked away from what many considered the ‘dream’ deal of his career – one which would have made him the greatest TV mogul ever, reaching more people in more countries than anyone else in history. For the past six months Murdoch’s News Corp has… Continue reading Insight Analysis: Murdoch Walks Away From ‘Dream’ DirecTV Deal

As predicted, WPP has launched an appeal against yesterday’s decision by the Takeover Panel concerning its desired withdrawal from the 555p-a-share offer it made for Tempus in August. The panel ruled that WPP was not permitted to invoke the Material Adverse Change clause in its initial offer for Tempus and that the £434 million takeover… Continue reading WPP Appeals Against Takeover Panel Decision

Acquisitions play a large part in the fortunes – or otherwise – of WPP this year. First half revenues were up over 56%, largely due to the contribution made by last year’s big name acquisition Young & Rubicam (see Shareholders Approve WPP/Y&R Deal), along with several other smaller companies acquired along the way (see WPP… Continue reading WPP Warns Results May Suffer In ‘Very Difficult’ Year