Sharewatch: Chrysalis Rises Following Advertising Push

Chrysalis Radio was buoyant last week, rising by 1.39% to 219p in week on week analysis. On Wednesday the group unveiled a £800,000 television advertising campaign to promote the LBC 97.3 FM breakfast show in the wake of furious marketing activity from its rivals closest London-based rivals (see LBC Gears Up For Breakfast Battle With Ferrari Promotion).

Publishing giant, Pearson saw a dip, sliding 1.86% to 658p on Friday. The Financial Times‘ publisher has announced that it is now on target to hit full-year profit forecasts and that advertising revenues have begun to recover (see Financial Times Sees Advertising Revenue Recover).

Advertising heavyweight Aegis also fared poorly, taking one of the week’s largest tumbles, falling by 6.48% to settle down 6źp at 90źp. The firm recently appointed Nigel Sharrocks as the new chief executive of its UK and Ireland operations following the unexpected departure of Mark Craze earlier this month.

Sharrocks will be required to increase billings at the company, currently trailing behind the Publicis and WPP, both of which recorded billings in excess of $30 billion during 2003 compared to Aegis’s $19.6 billion (see Aegis Appoints New Chief To Replace Craze).

The closing prices of media company shares on Friday were:

Subscribers can access ten years of media news and analysis in the Archive