In a statement this morning WPP announced that it had extended the deadline on its Tempus offer until midnight on 29 October whilst discussions with the Takeover Panel continue. WPP has sought to invoke the ‘material adverse change’ clause in its initial offer following the terrorist attacks on the US which, it claims, seriously damaged… Continue reading WPP Extends Tempus Offer Pending Takeover Panel Decision
The number of DSL (digital subscriber line) customers worldwide reached 10 million at the end of June 2001, according to a new report released last week by Point Topic. This represents growth of 354% over the last twelve months. DSL is a system of delivering high-bandwidth (broadband) data to homes and businesses via an ordinary… Continue reading Worldwide DSL Users Breaks 10m Mark
Shares in ITV companies began to fall this morning as analysts at Merrill Lynch cut their forecasts for the Network’s advertising revenues. Reports quote the broker as pulling back 2001 growth from -14.5% to -15.5%; 2002 figures are understood to have been revised from -2.0% to -2.5%. Poor advance bookings for December are thought to… Continue reading ITV Stock Hit By Merrill Lynch Downgrades
Regional newspaper publisher Johnston Press has formally requested that the acquisition of eight titles from rival publishing group, Trinity Mirror, be investigated by the Competition Commission (CC). The move follows competition minister Melanie Johnson’s decision not to allow the deal to go ahead without a CC investigation (see Johnston Considers Requesting Regulator Approval For Trinity… Continue reading Johnston Press Refers Free Trinity Papers Acquisition To Competition Commission
The ASA is exercising its “last resort” power and is requesting that the Office of Fair Trading (OFT) takes action against Magna Jewellery for continually placing misleading adverts.The ASA’s director general, Christopher Graham, said: “When a company consistently fails to abide by the rules of self regulation the ASA will ask the OFT to take… Continue reading ASA Brings Out The Big Guns
In a statement this morning WPP announced that it had extended the deadline on its Tempus offer until midnight on 29 October whilst discussions with the Takeover Panel continue. WPP has sought to invoke the ‘material adverse change’ clause in its initial offer following the terrorist attacks on the US which, it claims, seriously damaged… Continue reading WPP Extends Tempus Offer Pending Takeover Panel Decision
WPP, which is still awaiting a decision as to whether it will be allowed to back out of its deal with Tempus (see WPP Seeks Escape From Tempus Deal), was the best performer in yesterday’s FTSE 100. Shares were up 8.38% to finish at £5.36˝, an increase of 41˝p on the day before.Shares in Carlton… Continue reading Sharewatch
Shares in ITV companies began to fall this morning as analysts at Merrill Lynch cut their forecasts for the Network’s advertising revenues. Reports quote the broker as pulling back 2001 growth from -14.5% to -15.5%; 2002 figures are understood to have been revised from -2.0% to -2.5%. Poor advance bookings for December are thought to… Continue reading ITV Stock Hit By Merrill Lynch Downgrades
A consultation asking for views on how to regulate the media industry will be published next month, it was announced yesterday by Culture Secretary Tessa Jowell, but in a speech in Belfast, while supporting the idea of building a competitive market, she hinted that support for a reduction in the plurality of ownership could be… Continue reading Jowell Announces Communications Consultation
