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Telewest has announced the signing of a £2.25bn debt restructuring package, which should see the separate debts of Telewest and Flextech, which merged last year, merged as part of the deal. The loans mature in 2007, by which time the group is expected to be profitable. Charles Burdick, Telewest’s group finance director commented: “We are… Continue reading Telewest Signs £2.25bn Refinancing Deal

The Incorporated Society of British Advertisers (ISBA) has made a statement backing advertising on the internet, but calling for internet sites to join together in order to ensure accountability.In response to the statement, online planning and buying agency Quantum has re-released the charter it produced in October last year which calls for accountability from media… Continue reading Quantum Joins ISBA In Calls For Internet Advertising Accountability

The Independent Television Commission (ITC) has announced the financial terms for the renewal of licences for the ITV Border, Central, Channel, Grampian, Granada, LWT and Scottish regions, if they choose to renew their analogue licences for the ten year period beginning 1 April this year.Below are the cash bids and percentages of qualifying revenue required… Continue reading ITC Announces Financial Renewal Terms For Remaining Seven ITV Licences

Richard Eyre is thought to have left RTL, where he was director of strategy and content, due to frustration about his position caused by the Pearson/CLT-Ufa merger last year (see Pearson In Merger Deal To Create European TV Giant).Eyre left his job as chief executive of the ITV Network in November 1999 (see Eyre Departs… Continue reading Former ITV Chief Executive Richard Eyre Quits RTL

Cinema admissions during February reached a high of 13.8m, fuelled by the success of Hannibal. An average of 3.45m people visited the cinema each week during last month, an increase of 9.5% compared to January (see January Cinema Admissions Show 9.5% Increase Year On Year).Admissions were down year on year however due to the huge… Continue reading Hannibal Reaps Success At Box Office

The Advertising Standards Authority (ASA) has criticised the political parties of the UK for failing to come up with their own code of self-regulation for complaints regarding political advertising.As of January this year, and the publishing of the 10th edition of the British Codes for Advertising and Sales Promotion, the ASA no longer considers complaints… Continue reading ASA Washes Its Hands Of Political Advertising Regulation

Yesterday’s financial results from Trinity Mirror (see Profits Up At Trinity Mirror As ic24 Buyer Is Sought) received a largely positive reaction from the national press and brokers today. Uncertainty around advertising growth is preventing very positive outlooks for the newspaper publisher, although ABN Amro notes that Trinity stock is trading at a 46% discount… Continue reading Trinity Mirror Financial Results – Reaction

The BBC’s board of governors has been criticised by Gerald Kaufman for being past its sell-by-date. The chairman of the commons media select committee, he launched his report on the Government’s Communications White Paper yesterday, saying that the governors had “outlived their usefulness” and suggested that new plans for the regulation of the Corporation were… Continue reading BBC Should Be Regulated By Ofcom, Says Government Report

Despite the fact that the new ITV licence fees, due to be announced within the next few days, are expected to be higher than before, it is thought that the channel’s continued lack of carriage on the digital satellite platform could have more serious financial implications for the channel in the short term.Those ITV franchises… Continue reading Lack Of Carriage On Digital Satellite Could Lose ITV Companies £8m Per Quarter

Shares in Trinity Mirror were up yesterday following the release of its financial results for 2000 (see Profits Up At Trinity Mirror As ic24 Buyer Is Sought). News that it is to put its ISP ic24 up for sale following internet losses of £42.3m was considered favourably by the market and prices rose 6% to… Continue reading Sharewatch