Reed International continues to strengthen after Reed Elsevier’s trading statement released last week caused the share price to tumble (see Sharewatch). Reed closed yesterday up by 20źp at 546p.Telecoms companies Cable & Wireless and Telewest both held steady yesterday following a slip in shares caused by the surprise sale of 10% of C&W stock (see… Continue reading Sharewatch
The telecoms sector was rocked yesterday by the surprise, discounted sale of 10% of Cable & Wireless stock by German telecommunications company, Veba. ABN Amro and Cazenove, Veba’s joint brokers, placed 246 million shares with a number of instutional investors at around 735p. This price is an enormous 11.5% discount on C&W’s 830˝p closing price… Continue reading Sharewatch
Outdoor company, More Group UK, has acquired a controlling shareholding in the London based billboard contractor, Postermobile, and will be making an offer for the remaining shares. The management of Postermobile will continue to run the company and will also take responsibility for sales across More’s 48-sheet portfolio in the ‘Golden Triangle’ (Carlton, Anglia and… Continue reading More Group Acquires Postermobile
The Mirror Group has today sold its old headquarters in Holborn, London to former publisher Lord Hamlyn, for £40 million. The Mirror Group is hoping to reduce its debt to in order to force any prospective new owners to increase their bids for the company.Mirror Group has received and rejected bids from both Trinity International… Continue reading Mirror Group Nets £40m For Former Holborn Headquarters
Cable telecommunications company, Telewest, this morning announced that it gained almost 90,000 new television, telephone and business subscriptions by the end of the fourth quarter of 1998. Of these new customers, 51,000 subscribed to the company’s cable television service which, although still analogue, is competing directly with the new offerings being heavily promoted by Sky… Continue reading New Customers Lift Telewest
According to a report in this morning’s Independent, News International has decided to ditch plans to launch a free daily newspaper for London. Much speculation has recently centred around the company’s plans to reincarnate the Today newspaper in order to combat Associated Newspaper’s just-launched London Metro, which is given away each morning on the capital’s… Continue reading News International May Drop London Freesheet Plans
Magazine publisher Highbury House Communications has created a joint venture with Internet Advertising in order to publish magazines on the Net. The company says that it has acquired the rights to use certain ‘high-profile’ internet domain names including www.fishing.co.uk, www.gardening.co.uk and www.shooting.co.uk.Highbury has acquired Internet Advertising, which produces internet publishing software and website management services,… Continue reading Highbury House Creates Internet Venture
Despite being behind many other European countries, take-up of cable television in the UK has risen for the fifth successive quarter to its highest ever level, 23.7%. According to the Independent Television Commission’s (ITC) latest quarterly analysis, one third of all homes passed by broadband cable now subscribe to either cable TV, telephone or both.There… Continue reading Cable Take-Up Continues To Rise
Romsey Publishing has announced the launch of another gardening title following the recent spurt of launches in the sector recently. Romsey already publishes the title English Garden in the sector.However the new bi-monthly launch, which is to be called Garden Ideas, will aim for a younger, trendier audience, aged 25-45. Garden Ideas is planned to… Continue reading New Launch Into Gardening Magazine Sector
The Mirror Group is attempting to rally shareholder support for the sale of its 18.6% stake in Scottish Media Group (SMG) in order to sidestep a possible intervention by the Takeover Panel. The Mirror considers its holding in SMG, owners of Scottish Television and Grampian, a non-core asset.The Mirror Group is currently the subject of… Continue reading Mirror Group Seeks Shareholder Approval Of £108m Scottish Media Disposal
