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It seems that hopes of an advertising recovery in the second half are rapidly diminishing. ITV giant, Granada, this morning admitted it could see no end to the downturn (see Continued Ad Revenue Woe At Granada, But Results Are Top End Of Predictions), echoing comments made by Carlton Communications a few weeks ago (see Carlton… Continue reading Insight Analysis: Ad Downturn Could Get Worse Before It Gets Better

As expected, Granada dropped into loss during the first half of this year, mainly due to the continued downturn in ITV advertising volumes (see Reports Predict Continued Gloom From Granada Results). Pre-tax loss for the six months to 31 March, after exceptionals, digital spend and goodwill, came in at £69 million. This is dramatically down… Continue reading Continued Ad Revenue Woe At Granada, But Results Are Top End Of Predictions

The Financial Times has published an open letter to the newly returned Prime Minister, urging him to push ahead with the communications bill, now that the need to keep the media on-side is diminished following the election. The letter, by media reporter Andrew Ward, hints at the media’s displeasure at Chris Smith’s removal “You no… Continue reading FT Urges PM To Push For Action On Communications Bill

Following a report in the Wall Street Journal this morning, speculation is rife that IPC may be in talks with AOL Time Warner regarding a possible buy out. Although IPC Media has repeatedly denied that it is up for sale, chief executive Sly Bailey recently acknowledged the possibility of a sale or flotation “within the… Continue reading AOL Time Warner May Bid For IPC

Global marketing group, Cordiant Communications, today warned that the recent economic slowdown, and in particular the decline of the technology sector, will impact this year’s profits. Speaking at the AGM, chairman Charles Scott said that in the light of these more difficult trading conditions, job cuts have been made in a number of Cordiant’s businesses.… Continue reading Economic Downturn Hits Cordiant Jobs And Profits

Shares in the broadcasting sector took a slump this morning as reports claim that Granada’s financial results, due on Wednesday, will show deepening woes for ITV’s advertising revenues. The Financial Times says that ITV ad revenue is likely to be down almost 25% in July; in April revenues were down by 18.9%, according to buyers’… Continue reading Reports Predict Continued Gloom From Granada Results

BSkyB is to close its movie division Sky Pictures. The closure of the film division, which was set up in 1998, is thought to have resulted from a strategic review focussed on costs. BSkyB also recently announced plans to cut jobs from Open, Sky Interactive and the business side of Sky News. The decision to… Continue reading Sky Pictures To Close As Part Of Cost Cutting Drive

Virgin Radio has announced the launch of a new digital radio station aimed at teenagers. The station named Liquid is billed as; ‘the first pure chart radio service for London’ and will be a music led service featuring news, information and features designed to appeal to a core teenage audience. SMG commercial development director, Lee… Continue reading Virgin Radio To Launch Liquid At Teenagers

Emap Digital Travel (EDT) has been sold to internet-based travel technology and distribution group, Online Travel Corporation (OTC) for £2.8m. Paul Keenan, chief executive of Emap Digital, explained the decision, “We have previously stated that we are focusing our online activities towards our strategically important off-line assets. We don’t have a major presence in the… Continue reading Emap Offloads Travel Websites For £2.8m

The Wireless Group this morning said that it is to sell Scot FM to the Guardian Media Group (GMG) £25.5 million in cash and loan notes. Scot FM Limited owns just one licence and broadcasts across the central belt of Scotland as Scot FM. It was attained by Wireless Group as part of the acquisition… Continue reading Wireless Group Sells Scot FM To Guardian Media For £25.5m