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Scottish Radio Holdings (SRH) has paid £3.2 million for the remaining 60% stake in Carlisle Radio (CFM) it does not already own, the group announced this morning. CFM started broadcasting to Carlisle and West Cumbria in April 1993 and covers an area with a population of 230,000; 47% tune in each week. Its share of… Continue reading Scottish Radio Takes Remaining 60% Of Carlisle Radio

Despite an almost global downturn in the telecoms and IT markets, in Italy these sectors are growing ‘steadily’ reports Europemedia. Lay offs in the US have reportedly reached 136,006 for the period December 1999 to July 2001 (according to thestandard.com) yet the number of workers in the Italian IT sector has grown by 3.7% since… Continue reading IT Slowdown Yet To Hit ‘Steady’ Italian Market

A recent survey of leading online brokerage firms by Deloitte & Touche reveals that average use of online accounts has declined 42% as investors are taking a more conservative approach to their portfolios due to market volatility. The slowdown and unease in the US economy which began in early 2000 has significantly affected investment in… Continue reading Use Of Online Brokerages Falls In US

Pearson’s interim financial results showed a pre-tax profit of £5 million, ahead of the expected consensus loss of £10 million and slightly below the £11 million profit forecast by ABN Amro. A difficult period in terms of revenues in both its education businesses and advertising generally has caused Pearson’s stock to weaken recently. The Financial… Continue reading Pearson Results Show FT Profits Hit By Ad Downturn

European broadcaster RTL has this morning issued its second profits warning (see RTL Says 2001 Earnings Will Be Flat In Current Ad Climate), saying that trading during March has come in below expectations. Furthermore, the group says that visibility in the European television sector has deteriorated further. RTL says that given the lack of visibility,… Continue reading RTL Issues Second Profits Warning And Offers No Visibility

Press reports at the weekend suggest that United Business Media (UBM) is to cut around 400 staff from its workforce. It is expected that the majority of the losses will come from the CMP business publishing division in the US. CMP has suffered heavily at the hands of the deterioration of hi-tech advertising spend, which… Continue reading UBM To Axe 400 Jobs, Say Reports

According to PricewaterhouseCoopers, significant change is underway in the Information, Communication and Entertainment markets. In the report “The New Ice Age: Focusing Around The Individual”, PWC puts forward it’s forecasts for the future of these markets and assesses the outlook for companies operating within this environment in the UK. Considering the current turmoil of the… Continue reading The New ICE Age, PWC Reports On The Information, Communication And Entertainment Markets

The German advertising market is now looking extremely weak, according to an analysis of ACNielsen data by ABN Amro. The broker says that its previous forecast growth of 0.7% is now too high and is instead predicting a decline of 0.2% for the full year. The worst hit sectors will be outdoor and newspapers and… Continue reading German Ad Market Is ‘Extremely Weak’

Global advertising agency Interpublic Group (IPG) on Friday revealed Q2 financial results slightly below expectations and warned that the full year figures are likely to be below analysts’ current consensus. A slowing in marketing spend knocked IPG’s revenue from US clients back by 7.3%; international revenue remained flat. Earnings per share were down 43% at… Continue reading Interpublic Group Results ‘Not Acceptable’

Cordiant, the global marketing communications group, has acquired 100% of Presentation Communications International (PCI), a European live communications specialist. Based in London with over 60 employees, PCI designs and produces live events, exhibitions, videos and brand environments for clients which include Microsoft, Toyota, B&Q, BT, Marks & Spencer and Ford. The acquisition further enhances Cordiant’s… Continue reading Cordiant Acquires European Live Communications Specialist