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Deutsche Bank will next week auction off a 40% stake in Axel Springer which publishes the prominent German newspapers, Bild and Die Welt. The bank has taken responsibility for the stake from Kirch Media which has been unable to repay loan debts after falling into bankruptcy earlier this year (see KirchMedia Files For Bankruptcy Signalling… Continue reading Axel Springer Stake Up For Sale

Emap has confirmed that Hachette Filipacchi is to keep hold of the glossy women’s monthly, Red after a £17 million deal was thrashed out between the two publishers. Emap insiders have suggested that the group was keen to maintain control of Red, and had increased its offer to Hachette several times in an attempt to… Continue reading Emap Sells Stake In Red Magazine

Following protracted negotiations, Rupert Murdoch’s News Corporation has agreed to buy Telepiù, the loss-making Italian pay-TV operator, from Vivendi Universal for E920 million (£580 million). Speaking at a conference in New York yesterday, Murdoch said that Telepiù was “a world class property in an untapped market without cable competition.” News Corp will take an 80%… Continue reading News Corp Completes Telepiu Transaction

UPC has filed for bankruptcy protection in the US and Netherlands ahead of a debt for equity swap designed to secure the future of Europe’s largest cable TV company. Financial restructuring is expected to result in UnitedGlobalCom, a subsidiary of Liberty Media, increasing its share of the company to 65.5%. UPC’s remaining bondholders will retain… Continue reading UPC Files For Bankruptcy

Telewest Communications, the struggling UK cable firm, has reached an agreement with bondholders to eradicate £3.5 billion of its £5.3 billion debt in return for 97% of the company’s shares. It has also deferred the repayment of £68 million of interest on bonds as it seeks further approval from investors. The debt for equity swap… Continue reading Telewest Agrees £3.5 Billion Debt Deal

Media Stocks experienced heavy losses on Monday, falling victim to the broader volatility as World markets plummeted.Corporate profit woes, weakness in the UK insurance sector and the continued threat of military action in Iraq weighed on sentiment. Wall Street experienced its worst quarterly performance since the stock market crash of 1987 and the FTSE 100… Continue reading Sharewatch

Despite the ongoing advertising downturn marketing professionals received a 4% average pay increase last year, according to the annual salary survey carried out by the Chartered Institute of Marketing (CIM).However, the gap between male and female marketing directors is widening, with women getting paid 12.9% less than their male counterparts, compared with a 10.4% gap… Continue reading Marketing Salaries Defy Advertising Downturn

Emap’s dance music magazine Mixmag is launching a SMS initiative to allow readers to receive clubbing news direct to their mobile phones.The new text club, which will be promoted in the magazine, aims to build relationships with readers and create a ‘buzz’ around the monthly publication. The initiative has been designed by Flytxt, who is… Continue reading Mixmag and Flytxt Launch Interactive SMS

After lengthy negotiations Emap has confirmed that Hachette Filipacchi will maintain control of glossy women’s monthly magazine, Red.Insiders have suggested that the Emap was keen to maintain control of Red, and had increased its offer to Hachette several times in an attempt to prevent the magazine from changing hands.The future of Red has hung in… Continue reading Emap Loses Fight For Red

NRS figures for the six months ending in August 2002 reveal a relatively positive period for national newspaper readership, which increased by 0.9% year on year to just over 66.4 million, up from 65.9 million in the same period the previous year.The most activity was seen in the broadsheet market with the Sunday Times, which… Continue reading NRS National Newspaper Round-Up – August 2002