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Goldman Sachs has downgraded its 2001 and 2002 earnings forecasts for Pearson, owner of the Financial Times, due to concerns about the retracting advertising advertising market, according to reports. The broker has reduced Pearson’s earnings per share (EPS) estimates for this year from 47.8p to 40.0p and for 2002 to 58.3 pence from 71.1p. Particularly… Continue reading Goldman Sachs Downgrades Pearson Figures

Media giants WPP and Gannett have both been making reassuring noises this week designed, no doubt, to allay investors’ fears in these difficult economic times. According to the Guardian, WPP chief executive Martin Sorrell met with analysts last week following the news that profit warnings from other US ad companies had started a run on… Continue reading WPP And Gannett Speak Out To Reassure Investors

April figures from Italy confirm that the advertising recession has now reached the only remaining European market to have been showing growth. An analysis by ABN Amro shows that growth in April was just 1.7%, compared to 6.0% in the first quarter. Techonology and telecommunications adspend halved in the month, mirroring the experiences of the… Continue reading Ad Recession Hits Previously Strong Italian Market

Cable and Wireless was the worst media performer of the day again yesterday, with shares falling 3.58% to close at £4.04, a loss of 15p on the previous day.Maiden’s poor run also continued with stock sliding 2.17%, to finish at £4.50, shedding 10p on the previous day.Taylor Nelson Sofres saw the highest rise among media… Continue reading Sharewatch

To an assembled audience of advertising honchos in Cannes, Jupiter announced yesterday that it was cutting its global online advertising forecasts for 2001 from 47% growth to just 12% due to the extreme uncertainty of the market. Top advertising executives from around the world are in Cannes for the annual International Advertising Festival to compare… Continue reading Jupiter Slashes Online Ad Forecasts

The Advertising Standards Authority (ASA) proved that they are not wholly against controversy, deeming the latest addition to French Connection’s infamous FCUK campaign, ‘unlikely to cause serious or widespread offence’. The ASA received complaints that a cinema commercial for the FCUK brand was offensive, despite having been approved by the Cinema Advertising Association (CIA) to… Continue reading FCUK OK According To ASA

Despite the current fall-out in the advertising market and creeping negativity toward all things online, the internet is still as compelling a distribution medium this year as it was last. This is one of the findings of a new report from PricewaterhouseCoopers (PWC) – Global Entertainment And Media Outlook: 2001-2005. The research claims that the… Continue reading Spend On Internet Will Lead Global Media And Entertainment Industry, Says PWC

ITV Chief executive, Stuart Prebble, has demanded that the government make a commitment to the digital switch over, while accusing the BBC of wasting license fee payers money.Speaking at the annual Goodman Derrick lecture last night, Prebble accused the the government of not doing enough to promote the digital switchover. He called on the Secretary… Continue reading Prebble Demands Government Commitment To Digital

Media giants WPP and Gannett have both been making reassuring noises this week designed, no doubt, to allay investors’ fears in these difficult economic times. According to the Guardian, WPP chief executive Martin Sorrell met with analysts last week following the news that profit warnings from other US ad companies had started a run on… Continue reading WPP And Gannett Speak Out To Reassure Investors

Two US publishing groups – Dow Jones and Knight Ridder – have announced that they are to make a number of job cuts in order to meet financial targets. Knight Ridder, the second largest newspaper group in the US, is to axe 1,700 jobs, costing the group $75 million in redundancy pay-outs. Late last year,… Continue reading US Newspaper Groups Cut More Jobs