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Speaking on BBC Breakfast this morning Viacom chairman and CEO, Sumner Redstone, commented on the current decline in the media economy, describing his company as an “advertising juggernaut”. He said that whilst the downturn in ad revenue was undeniable, his company had weathered the storm reasonably well and ‘continued to hit targets’. One of the… Continue reading Viacom CEO Says Ad Revenue Upturn Will Be Evident By Q4

Fears that shares in SMG would suffer as a result of Virgin Radio’s celebrity DJ, Chris Evans, being dismissed (see Virgin Terminates Evans’ Contract), were squashed yesterday, as shares in the company rose 3.63% to finish at £1.71˝, 6p better off than the previous day.The Wireless Group did not share the same good fortune with shares… Continue reading Sharewatch

A senior ITV executive last night demanded that the government commit to encouraging the consumer take up of digital terrestrial television by significantly reducing the estimated £200m in annual licence fees paid by commercial broadcasters.Speaking at the Royal Television Society last night, Nigel Walmsley, deputy chief executive of Carlton, questioned the licence fees paid for… Continue reading Carlton Calls For Licence Fee Cut To Boost Digital Take Up

The Radio Authority has announced proposals for a new set of ownership rules for local analogue radio licences. The changes would include the abolition of the ownership points system and the removal of the “cap” on the number of local radio licences a person can own. The new formula for ILR ownership would also allow… Continue reading Radio Authority Proposes New Ownership Rules

The first monthly lifestyle mag aimed at male teens between 13 and 17 was launched yesterday. Gear magazine, published by Paragon, costs £2.99 and cashes in unashamedly on the pester power element now dreaded by all parents. Gear is aimed at “technologically aware, affluent and highly active consumers with virtually unlimited spending power” and blends… Continue reading Gear – First Issue Review

The NRS figures for the six month period ending May 2001 show a continued decline in national newspaper readership. The sector overall was down 3.7% compared to the same period last year with all but five titles losing readership.The Daily Express continued to suffer, experiencing the greatest loss in terms of actual readership, dropping over… Continue reading National Newspaper NRS Round-Up – May 2001

A further batch of Sky analogue channels will be switched off this weekend as the broadcaster moves closer to its September deadline of total analogue switch-off. The latest batch of channels to become available to Sky customers only on the digital spectrum will be Sky News, Sky Moviemax, Sky Sports 1 and 3, the Disney… Continue reading More Channels Leave Sky Analogue

Viacom CEO Sees Ad Revenue Upturn By Q4Speaking on BBC1’s Breakfast this morning Viacom chairman and CEO, Sumner Redstone, commented on the current decline in the media economy, describing his company as an “advertising juggernaut”. He said that whilst the downturn in ad revenue was undeniable, his company had weathered the storm reasonably well and… Continue reading Viacom CEO Sees Ad Revenue Upturn By Q4

Is Tivo The New Betamax?Hard disk video recording system Tivo may turn out to be the new Betamax, the ill-fated video cassette system of the ’70s, according to respondents of a new survey by The Media Edge.Of the 170 people that took part in the survey, 84% either already own Tivo recorder (39%) or intend to… Continue reading Is Tivo The New Betamax?

With speculation growing that high profile DJ Chris Evans is to quit SMG owned Virgin Radio, shares in SMG dropped 3.5% to finish at £1.65˝ yesterday, a loss of 6p on the previous day.Shares in Carlton and Granada continued to fluctuate in what has been an unsettled week for the ITV shareholders (see Carlton And… Continue reading Sharewatch