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Pearson has today ended speculation that it was prepared to sell its FT Business magazines by confirming that the titles are to be retained within the organisation. A management team led by Stephen Hill, former chief executive of the Financial Times Group, had tabled a bid, believed to be in the region of £80 million,… Continue reading Pearson Opts To Keep FT Business

After the most traumatic week in its short history, the French media group, Vivendi Universal, is in the process of effecting a rescue package which the management hopes will enable it to avoid a E1.8 billion shortfall. The heavily-indebted company is believed to have only E2.4 billion in cash reserves as well as unused credit… Continue reading Vivendi Launches Debt Relief Strategy

The beleaguered cable firm, Telewest, has announced that it is to start talks with bondholders and Liberty Media about restructuring its balance sheet. In a letter sent to shareholders today, the board confirmed that Liberty, which has a 25% share in the company, had made an offer to buy 20% of Telewest’s outstanding bonds. Chairman… Continue reading Telewest Agrees To Discuss Refinancing

Twelve percent of the US population now have broadband at home, according to a new report from Pew Internet & American Life Project. The total number of people using high speed web services now stands at 24 million, up from just 6 million in June 2000. Twenty-one percent of US internet users now access the… Continue reading US Broadband Net Population Swells To 24m

Revenues from online music services are set to multiply in the next few years, according to a new study from Screen Digest. With retail sales in Europe stabilizing, record companies are stepping up efforts to distribute their products by alternative means. The report predicts that online music sales will represent 17% of total music industry… Continue reading Music Sites To Find Right Rhythm, Says Screen Digest

Public access wireless local area networks (PWLANs) will not have a dramatic impact on the European telecommunications market, according to a new study by The Yankee Group. The report, Public Access WLAN in Europe: A Technology in Search of a Business Case?, acknowledges the progress made in developing WLANs but questions whether the infrastructure is… Continue reading Potential of WLANs Has Been Exaggerated, Says Yankee Group

The media market was depressed yesterday after £37bn was reportedly wiped off the UK stock market and the FTSE 100 fell below the level it reached shortly after 11 September. Cordiant was the worst performer among media companies with shares dropping 9.40% to close at 67˝p, a loss of 7p on the day before.BSkyB also… Continue reading Sharewatch

Virgin Radio was the most listened-to online radio station in the world during May this year, according to research from both Arbitron Webcast and Measurecast.James Cridland, managing editor for virginradio.co.uk said: “Virgin Radio’s figures were boosted by the station’s introduction of the trail of streaming MP3. We now broadcast in three major formats including Windows… Continue reading Virgin Is World’s Number One Web Radio Station

Peugeot has awarded its outdoor planning and buying account to Outdoor Connection. Peugeot’s spend on outdoor advertising last year was around £2m, according to MMS.Andrew Allerton, joint managing director of Outdoor Connection, commented: “Peugeot has a reputation for being a consistent and innovative user of the outdoor medium – our aim is to ensure that… Continue reading Outdoor Connection Wins Peugeot Account

Shadow Culture Secretary, Tim Yeo, has welcomed the ITC’s decision to award the digital terrestrial TV (DTT) licences made available following the collapse of ITV Digital to the BBC and BSkyB (see However, he warned that awarding the licences to a consortium comprising of the two “most powerful” groups in television means that the Government… Continue reading Shadow Culture Secretary Welcomes DTT Licence Decision