Toronto-Dominion Bank and Citibank NA are arragning a £500m five year revolving credit facility for BSkyB. The two arranging banks have agreed to underwrite a total of £250m of this amount. The proceeds of the facility will be used to repay the £100m bank loan to to reduce BSkyB’s existing obligations to its shareholders. The… Continue reading BSkyB Refinancing
The annual rate of inflation has fallen to 2.3% for March, it has been announced this morning. The Retail Prices Index is 150.6, taking 1985 as the base rate.The fall, from February’s 2.4% rate, means that hopes of lower interest rates have been revived; the RPI will increase pressure for an interest rate cut because… Continue reading Inflation Down For March
Chris Powell, Chief Executive of BMP DDB Needham has been re-elected as President of the IPA for a further year. Frank Casey of Brunning Group Trustees Ltd has been re-elected Honorary Secretary and John Page of Delaney Fletcher Slaymaker Delaney Bozell was re-elected Honorary Treasurer.The following members were newly elected:Nigel Foster – JWTRichard Hytner –… Continue reading IPA Elections – Chris Powell Remains President
Mirror Group Newspapers has announced that David Banks, editor of the Daily Mirror has been appointed editorial director of the whole group. He will be replaced by Colin Myler, editor of the Sunday Mirror. The Sunday Mirror will be edited on a temporary basis by Paul Connew.SUNDAY TELEGRAPH PRICE CUTThe Sunday Telegraph is to try… Continue reading New Mirror Editor/Newspaper Promotions
Aegis has reported results today for 1993; there was a pre-tax loss of £18m, against a loss of £11m in 1992. There were write-offs as expected, (Newsline 11/4) of £40m.The write-offs are three times the £14m anticipated last October and include refinancing costs, closure of a Paris office and re-organisation in France, and a £4.2m… Continue reading Aegis Losses As Feared
The Financial Times is launching a promotion ‘Gourmet Breaks in France’ on Saturday 16 April. The newspaper has recently run a ‘Lunch For A Fiver’ promotion as well, although it limits itself to only six such offers per year.Readers have to collect eight tokens; this will enable them to four nights’ hotel accommodation for £10,… Continue reading FT France Offer
The Department of National Heritage has confirmed that it is being taken to court by the European Commission over its interpretation of rules on jurisdiction over satellite broadcasts. The Commission is insisting that Britain should have no jurisdiction to prevent satellite companies from broadcasting in Britain; this could remove Britain’s right to stop Continental satellite… Continue reading European Satellite Row Continues
Melody Radio’s regular financial news summaries are to be sponsored by Schroder Unit Trusts in a one year deal beginning on April 18.
Dennis Publishing is launching a new business title, Network Reseller Magazine, on June 28. The title will be bi-monthly, changing to monthly in September.Editorially the title will aim to cover all information needs of third party service providers, in the networking industry; it will be targeted at resellers, primarily those who work with networking equipment.A… Continue reading New Computer Business Title
Media advertising is not under any threat from the new marketing possibilities of databases, sponsorship, telemarketing and interactive media, according to Winston Fletcher, chairman of DFSD Bozell, speaking at the Newspaper Society’s advertising conference.Fletcher pointed out that media advertising actually accounts for 77% of all marketing communications, or £7.825 billion; sales promotion only accounted for… Continue reading Media Advertising Not Under Threat
