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SMG has increased its interest in Scottish Radio Holdings (SRH) once again, this time acquiring a further 150,600 shares in the company – equivalent to a 0.5% stake. The £2.3 million deal values SRH shares at 1,495p and takes SMG’s holding to 28.5%.

Adam Singer, chief executive of cable company Telewest Communications, this morning described events in the last twelve months as the business equivalent of ‘changing jobs, getting married and giving birth all in one year.’ He was referring to Telewest’s move from analogue to digital, the merger with Flextech and the roll-out of its unmetered high-speed… Continue reading Telewest Chief Sees Rosy Future Despite £701m Losses

ABN Amro has downgraded its recommendation of European broadcaster RTL from Hold to Reduce this morning, following the release of the group’s year-end financials results (see RTL Says 2001 Earnings Will Be Flat In Current Ad Climate). The broker says: “For the first time a European broadcaster has admitted that there will be no H2… Continue reading ABN Downgrades RTL

New figures from market research group AC Nielsen show that Germany’s advertising expenditure in February was 8.8% lower than the previous year. January was 1.4% down and gross television revenues were 4.7% lower than 2000, according to an analysis of the figures by ABN Amro. The fall is mainly due to lower spend from the… Continue reading Germany Experiences Ad Downturn

International media group Independent News & Media (INM) has this morning reported a pre-tax profit increase of 13% to €155 million for 2000. This is slightly below most analysts’ expectations and has caused the shares to drop during trading today. Executive chairman Anthony O’Reilly said that it is too early in the year to make… Continue reading Independent Reports Positive Results, But Below Expectations

Regional newspaper publisher Johnston Press has this morning offered a positive outlook for the coming year after unveiling better than anticipated financial results. Profit before tax was up 20.9% at £66.5 million and operating profit grew by 27.3% from £65.9 million in 1999 to £83.9 million. Chairman Fred Johnston acknowledged the transatlantic economic slowdown and… Continue reading Johnston Press Gives Positive Outlook For 2001

European free-to-air broadcaster RTL this morning said that it feels “better placed than most … to withstand the current uncertainties in advertising markets around Europe.” Nevertheless, the company warned that earnings were likely to be flat in 2001 due to the effects of restructuring Pearson Television North America and a decrease in the audience of… Continue reading RTL Says 2001 Earnings Will Be Flat In Current Ad Climate

European broadcast and content company, RTL Group, has this morning confirmed that Richard Eyre, director of strategy and content, and an executive director of the board, will be leaving at the end of March. This announcement follows speculation in the press yesterday (see Eyre Understood To Have Quit RTL Post). Tony Cohen, currently chief executive… Continue reading RTL Confirms Eyre’s Departure

The US second-largest newspaper publisher Knight Ridder has announced that the deterioration of advertising revenues in March will knock back its first quarter earnings by around 25%, when compared to the previous year. The company – which publishes 32 daily titles including the Miami Herald and Philadelphia Inquirer – said that earnings would be 15-20… Continue reading Knight Ridder Becomes Latest Newspaper Group To Issue Profits Warning

Taylor Nelson Sofres’ results yesterday were above analysts and investors expectations and offered an upbeat outlook for 2001 (see Taylor Nelson Sofres Releases Positive Year End Results). The market research network said it expects the sector to grow by 8% during the year and believes it is in a good position to take advantage of… Continue reading Taylor Nelson Sofres Financial Results – Reaction