Rumours of negotiations between ITVDigital and BSkyB resurfaced today with reports that Carlton and Granada, joint owners of ITV Digital, are meeting with the rival satellite operator with a view to co-operation and possible carriage of ITV channels on the Sky platform.ITV has promised in the past to secure carriage (see Newsline), but has been… Continue reading ITV Partners May Co-operate With BSkyB
Continued weaknesses in the advertising market have led ABN Amro to downgrade its 2001 and 2002 earnings per share forecasts for VNU by 4% and 10% respectively. The broker says that visibility for the business information group remains low as advertising in the business magazines sector is still weak. VNU’s US magazine division saw revenues… Continue reading ABN Amro Downgrades VNU Forecasts But Is Positive On Long-Term Future
Future Announces Refinancing PlanLate on Friday, following the suspension of trading in its shares and the announcement of its financial results, Future Network revealed the details of its refinancing plan. The group is to issue new shares at 20p each in order to raise £33 million net of expenses.Six new shares will be issued for… Continue reading Future Announces Refinancing Plan
Media Market Round-UpCompiled from this week’s City News reports on MediaTel Insight: The Future Network, which was expected to announce interim results today, has this morning issued a statement saying that shares have been suspended pending a further announcement later today. Coverage will follow on NewsLine and MediaTel Insight as further information emerges. On Wednesday… Continue reading Media Market Round-Up
Future Reveals LossesShares in Future Network remained suspended this afternoon as the group released its delayed interim results. In a statement this afternoon, Future said that shares had been suspended “in order to prevent a false market developing ahead of a significant refinancing announcement”. Details of the refinancing deal are expected ‘shortly’ and shares will… Continue reading Future Reveals Losses
European media group Bertelsmann yesterday announced full year results for the period to June 2001 and continues to prepare for its IPO, expected in 2002/2003. Sales were reported to be up 21% to E20 billion and net income was up 35% to E1.5 billion. Operating margins for the group have fallen from 7.5% to 6%,… Continue reading Bertelsmann Still On Track For IPO Despite Fall In Earnings
Shares in Cordiant Communications fell by over 40% this morning following the issue of a profits warning by the marketing and communications agency. After closing at 95½p yesterday, shares in Cordiant had slumped to 56p in opening trade this morning. Cordiant said “Trading conditions in our industry are currently the most difficult experienced in recent… Continue reading Shares Slump As Cordiant Issues Profits Warning
Shares in Future Network remained suspended this afternoon as the group released its delayed interim results. In a statement this afternoon, Future said that shares had been suspended “in order to prevent a false market developing ahead of a significant refinancing announcement”. Details of the refinancing deal are expected ‘shortly’ and shares will remain suspended… Continue reading Future Shares Remain Suspended As Losses Are Revealed
After Capital and GWR released trading statements yesterday confirming the downturn affecting radio advertising revenue (see Media Market Round-Up), shares in Capital rose 2.51% to finish at £5.10, an increase of 12˝p on the previous day. GWR fared less well, however, with stock falling 3.77% to close at £1.66, down 6˝p on the day before.Shares… Continue reading Sharewatch
Troubled publisher Future Network has this morning suspended its shares pending a further announcement from the company later today. Shares in Future have dropped dramatically over recent months after reaching highs of 900p during the tech boom last year (see Future Network ‘Pushed Off Course In Bruising Year’). Yesterday Future Shares closed at 24½p. Last… Continue reading Future Suspends Shares Pending Further Announcement
