CMR Predicts ‘Modest Growth’ For Advertising SectorUS adspend will increase by more than 3% to $117.5 billion in 2003, according to a full-year forecast issued by CMR yesterday.US Newspaper Revenue To Grow 4.0% In 2003, Says Merrill LynchFourth quarter advertising revenue for US newspapers will grow by 3.5%, with further rises predicted for 2003.GSM Success… Continue reading On MediaTel Insight Today…
Advertising and public relations company, Chime Communications, is to sell 49% of its Howell Henry Chaldecott Lury (HHCL) advertising agency to WPP, the group announced this afternoon. WPP will pay £3.5 million in cash for the stake in HHCL, which will become part of WPP’s international Red Cell network. Chime will have the option of… Continue reading Chime Communications Sells 49% Of HHCL To WPP
Indebted UK cable company, Telewest Communications, this morning said that it has reached a non-binding agreement with its senior lenders and bondholders over the terms of its new bank lending facilities (see Telewest Positive On Restructuring Plan). The amended bank facilities total £2.2 billion and will provide Telewest with ‘substantial liquidity’ that should meet the… Continue reading Telewest Agrees New £2.2bn Bank Lending Terms
The acquisition of Galaxy Radio Wales by Vibe Radio Services has been referred to the Competition Commission for investigation. Competition minister, Melanie Johnson, said that she is concerned that the deal, already completed (see Chrysalis Takes GWR’s LNR And Sells Galaxy 101), might reduce competition for local radio advertising in the Bath and Bristol areas.… Continue reading GWR Questions Competition Referral Of Vibe’s Galaxy Acquisition
US cable giant, Liberty Media, has for the second time declined to increase its stake in UK cable operator, Telewest Communications, indicating that its European cable ambitions may be on the wane. According to a report on FT.com, Liberty passed up the chance to buy Microsoft’s 25% holding in Telewest, despite having first rights on… Continue reading Liberty Media Passes Up 25% Telewest Stake Opportunity
Cable operator NTL has finally emerged from bankruptcy protection after restructuring its debt to satisfy creditors. The company will now be split into two parts, NTL Incorporated, featuring its UK and Ireland business, and NTL Europe. Lenders have agreed to swap $10.9 billion in debt for equity. NTL’s parent company initially applied for Chapter 11… Continue reading NTL Emerges From Bankruptcy
Media stocks were seen under pressure on Monday, as a weak start on Wall Street, falling oil prices and disappointing economic numbers weighed on sentiment.Investors were seen considering rumours of a possible take-over of Carlton by German Bank WestLB, which was strongly denied by Carlton. The stock was seen falling 1.85%.Elsewhere, troubled telecom group Cable… Continue reading Sharewatch
BT has announced that it is cutting the cost of its high speed internet connections for both consumers and businesses in an attempt to drive broadband take-up in 2003.All new broadband accounts in the first quarter of the year will now be activated free of charge and the cost of modems will also be reduced.According… Continue reading BT Hopes Broadband Price Cuts Will Deliver
Ad agency Feel has secured the contract to publicise the launch of new lifestyle magazine, Indobrit, at the end of this month.The new magazine, which is targeting both second generation Asian Brits and non Asians, will feature a mix of fashion, entertainment and topical articles.It is expected that the launch will spark controversy over an… Continue reading Feel Secures Launch Contract For New Indobrit Magazine
2002 was an undoubtedly turbulent year for UK media, with the collapse of ITV Digital, the publication of the Communications Bill and news of Carlton and Granada’s impending merger set against the backdrop of the ongoing advertising downturn. With 2003 still in its infancy, James Papworth, ad marketing manager at IPC Prospector, looks back over… Continue reading NewsLine Column: A Fascinating Year For UK Media?
