Advertising revenues at Granada were up by 14% in May, the company told a Merrill Lynch conference this morning. The group also said that there is now limited forward visibility, something which has so far been unavailable according to most media groups.
June will show revenue up 7%, with July rising 6%. The strong US upfront figures (see
Forecasts) have helped Granada, as 20-25% of revenue comes from the US.
The possibility of a merger with rival ITV group, Carlton Communications, before the 2003 Communications Bill is passed was also mooted by Granada. This may be allowed, as long as there is the segregation of an advertising sales house, said Merrill Lynch analysts.
Digital strategy Granada also confirmed that it will decide over the next few days its ongoing plans for participation in the digital terrestrial TV (DTT) market, following the closure of ITV Digital (see Administrators Switch Off ITV Digital). Granada’s plans could involve a free-to-air joint venture with the BBC and other groups.
