The fate of Cordiant Communications has been all but sealed this afternoon, as shareholders voted overwhelmingly in favour of the proposed takeover of the group by WPP.At an extraordinary general meeting today, shareholders representing 99.2% of the company’s stock voted to proceed with WPP’s £266 million takeover bid.Only 75% approval was needed for the deal… Continue reading WPP Triumphs In Cordiant Battle
Global information group, Reuters, has this morning unveiled a first half pre-tax profit of £87 million, following a loss of £10 million for the same period in 2002. This figure is substantially ahead of a £57 million forecast from Merrill Lynch.However, despite the strong pre-tax profit figure, Reuters’ overall revenues were down by 12% to… Continue reading Reuters Moves Into Profit As Savings Plan Pays Dividends
The ASA has stepped into a dispute between Freeserve and Tiscali by upholding complaints against a direct mailing, which misleadingly claimed Tiscali was Europe’s leading internet service provider.The advertisers argued the claim was based on the fact their European geographical coverage spanned 13 countries and was far wider than that of any other ISP. They… Continue reading ASA Slams Tiscali For Misleading Mailings
The Daily Telegraph is continuing its efforts to appeal to a younger readership by sponsoring the Rip Curl Boardmasters surf and skate festival in Newquay, which runs between 26 July and 3 August.The recently relaunched broadsheet is running an in-paper competition with Nokia to offer readers the chance to win a weekend for four in… Continue reading Surf’s Up As Daily Telegraph Targets Younger Readers
Sunrise Radio’s bid to acquire Mean Country 1035 AM has been given preliminary approval by the Radio Authority, following the passing of the Government’s Communications Act last week (see Parliament Finally Green Lights Communications Act).Sunrise, which operates radio stations for Asian listeners in London and across the UK, is planning to takeover Mean Radio Holdings,… Continue reading Watchdog Shines On Sunrise Radio’s Mean Country Bid
Virgin Radio has promoted its sponsorship account manager, Louise Reeves, to the role of head of sponsorship.Reeves joined Virgin Radio three years ago and has a range of experience throughout the station’s sales department, including a stint as senior sales executive in new media and promotions.She said: “I look forward to making sure our sponsorships… Continue reading Virgin Radio Appoints New Head Of Sponsorship
Following a less than impressive second quarter, analysts have revised their outlook for US radio advertising and growth in this sector is predicted to be less than originally envisaged. Merrill Lynch has now cut its full-year 2003 growth forecast from 3.3% to 2.7%.Also On MediaTel Insight Today…UBM Reports Continued Hi-Tech Ad Decline In JuneThe hi-tech… Continue reading MediaTel Insight: US Radio Update From Merrill Lynch
United Business Media was seen under pressure, down 1.62% yesterday, after failing to impress the market with the acquisition of Builder Group, the construction magazine business (see UBM Builds Up Portfolio With Aprovia Acquisition).Elsewhere, Cable & Wireless was seen in the spotlight, down 4.64%, after its chief executive revealed that the restructuring process recently put… Continue reading Sharewatch: UBM Falls Ahead Of Acquisition
Culture Secretary, Tessa Jowell, has admitted that Lord Puttnam’s last minute plurality test amendment to the Communications Bill helped to improve the recently passed legislation (see Parliament Finally Green Lights Communications Act).The Government was forced to accept the eleventh hour proposal to give Ofcom the power to investigate major cross-media mergers after a group of… Continue reading Jowell Admits Plurality Test Improved Communications Bill
The cost of unmetered dial-up internet access could be reduced by service providers, following a ruling by Oftel that will force BT to bring down the amount it charges operators to use its network.Following an investigation into BT’s charging practice, the telecommunications watchdog is forcing the company to reduce its fees by 17%. Oftel concluded… Continue reading Oftel’s BT Ruling Should Bring Down Dial-Up Internet Costs
