Trade and industry secretary Stephen Byers has cleared all three bid proposals for regional newspaper publisher Regional Independent Media. Byers said that a transfer of RIM’s newspaper titles to either Gannett, Johnston Press or the Guardian Media Group would not operate against public interest. The three put forward bid proposals for RIM, which owns the… Continue reading Byers Clears RIM Bid Proposals
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Trinity Mirror has today announced the acquisition of Southnews for £284.6m. The combination of the two regional newspaper groups will increase Trinity’s presence in the South East of England, a lucrative area for advertisers. Under the deal Southnews shareholders will each receive £12.00 per share in cash, a premium of 57% on yesterdayÂ’s closing price.… Continue reading Trinity Mirror Buys Southnews For £284m
A new report by Jupiter Media Metrix indicates that America’s dominance of the Internet industry may be slipping. The study, which covers markets in Australia, the US, Germany, France, and the UK, estimates that 245 million households worldwide will be online by 2005. It also predicts that the vast majority of growth, as well as… Continue reading US Dominance Of Net May Be Slipping
Broadband internet users are likely to spend more online than those using modem dial-up connections, according to a new report by the Gartner Group. The research predicts that by 2006 a quarter of US households will spend more than $10,000 each via the Net – 75% of them will use broadband access. Broadband connections are… Continue reading Broadband Users Will Spend More Online
Shareholders at WPP today approved the acquisition of Young & Rubicam, which will create the world’s largest advertising agency. The $4.7bn takeover deal was confirmed in May this year (see WPP Buys Young & Rubicam For $4.7bn). WPP is issuing 0.835 new American Depositary Receipts for each Young & Rubicam share. It is expected completion… Continue reading Shareholders Approve WPP/Y&R Deal
Yesterday’s trading statement by Granada Media, coupled with a downgrade at the beginning of the week by Merrill Lynch, has caused shares in the company to fall very steeply. Between Monday and close on Wednesday, Granada Media stock has lost 23.6% in value, closing at 438p on Wednesday. The trading statement, whilst on the whole… Continue reading Granada Stock Fall ‘Could Be Worrying’ Says FT
The merger of United News & Media’s ITV assets received overwhelming approval from its shareholders. At an extraordinary general meeting the majority voted in favour of a sale to Granada Media, following the announcement of the deal in July this year. Sir Roland Hampel, chairman of United, said: “United’s shareholders have recognised the outstanding value… Continue reading United Shareholders Approve Granada Merger
Shares in Granada Media continued to tumble this morning after the company issued a trading statement predicting a slowdown in ad revenue during 2001. After a significant downgrade from Merrill Lynch sent shares sliding yesterday, stock fell a further 12% after the group said it could not match the high levels of ad revenue growth… Continue reading Granada Predicts Slowdown In Ad Revenue, Announces Completion Of United Deal
Shares in Granada Media tumbled today after a “significant” downgrade by Merrill Lynch wiped 21% from its 2001 profit forecast. Prices slipped almost 9% as the bank highlighted ITV advertising softness, “conservative accounting” for the United TV assets and additional digital new media costs as contributing factors in its decision. Carlton Communications prices fell by… Continue reading Granada And Carlton Stock Tumbles After Downgrade
Despite the almost daily announcements from all over the world about the creation of emarketplaces, IDC believes projections calling for thousands of emarketplaces by 2004 are overzealous. IDC is much more conservative, forecasting only several hundred emarketplaces in 2004. “eMarketplaces are just one segment of the business-to-business ecommerce landscape,” said Dr. Leo Lipis, senior analyst… Continue reading eMarketplace Growth Forecasts ‘Overzealous’, Says IDC