Sharewatch: BSkyB Lifted By Subscription Crackdown
BSkyB was seen in the spotlight yesterday with shares rising by 2.26% to close at 520˝p as the satellite broadcaster launched a campaign to weed out attempts by pubs to dodge it’s new subscription charges, which have more than trebled in some establishments.
Meanwhile, Kelvin MacKenzie’s Wireless group saw stock hold firm at 76˝p as a High Court Judge requested more time to consider whether his multimillion pound law suit against RAJAR should proceed to trial next year. MacKenzie claims that audiences for his talkSPORT station are being underestimated because of RAJAR’s decision not to replace its diary system of audience measurement with a new electronic method (see Judge Reserves Decision Over RAJAR Court Case).
Elsewhere, global advertising giant WPP dipped by 0.71% yesterday to close at 556˝p as rival Havas announced that third quarter organic revenue outstripped previous quarters to grow by 2.1%. The period from July to September has been the strongest for the group so far this year, providing further evidence that the advertising recovery is ‘undisputable’.
The FTSE 100 rose to a 29-month high yesterday even as US election euphoria dimmed and the Bank of England kept UK interest rates at 4.75%. The index close up by 0.3% at 4,728.3, with the mid-cap FTSE 250 rising by the same amount to 6,446.7.
The closing prices of media company shares on Thursday were:
