Mirror publisher Reach stock jumps on digital good news January 8, 2021 Reach stock jumped this morning on the news the business had seen impressive digital growth in Q4 2020. The Mirror publisher’s stock jumped 25 per cent this morning on the news the publisher was doing better than expected. The publisher, which owns brands including the Express and the Daily Star saw digital revenue in [...]
Screenshot: Will Sunak save music festival season? January 8, 2021 A weekly column from City PM bringing you all the biggest stories and trends in technology, media and telecoms This week **Media Moment of the Week: Reporting from the ruins of democracy **A rallying cry to save music festivals **Youtube, Talk Radio and the quagmire of online regulation Media Moment of the Week I usually [...]
Shopify joins Facebook and Instagram Trump ban January 7, 2021 Donald Trump has been banned from Facebook and Instagram until the presidential transition is completed, Mark Zuckerberg has confirmed – and the ban could go on for longer. Zuckerberg, the founder and CEO of Facebook, which owns Instagram, confirmed the current US President would be banned from posting on the platforms for the remaining days [...]
MPs urge Rishi Sunak to save music festivals amid threat of collapse January 7, 2021 MPs have urged chancellor Rishi Sunak to roll out emergency support for music festivals this summer, warning many events are at risk of permanent collapse. In a letter today the Department of Digital, Culture, Media and Sport (DCMS) committee asked the chancellor to launch a government-backed insurance scheme to ensure festivals and live music events [...]
GB News promises ‘boldly different’ TV channel as it secures £60m funding January 6, 2021 An upcoming TV channel promising to shake up the rolling news market will start recruiting 120 journalists after sealing the final tranche of its £60m investment. GB News, which is spearheaded by Andrew Neil, today said it had secured backing from Dubai-based investment firm Legatum and hedge fund manager Sir Paul Marshall. The funding round, [...]
Sky chief executive Jeremy Darroch to step down January 6, 2021 Sky chief executive Jeremy Darroch is stepping down after 13 years at the helm of the media giant. Darroch, who is one of the UK’s longest-serving bosses, will retire as chief executive and take up the role of executive chairman. He will be replaced by Dana Strong, who is currently president of consumer services at [...]
Former City banker Richard Sharp ‘to be appointed’ as new BBC chair January 6, 2021 The government is reportedly poised to name former Goldman Sachs banker Richard Sharp as the new chair of the BBC. Ministers will this week announce that Sharp has been appointed to succeed Sir David Clementi at the helm of the broadcaster, Sky News reported. The appointment, which is made by the government rather than the [...]
Striking a chord: Hipgnosis buys half of Neil Young’s song catalogue January 6, 2021 Hipgnosis has snapped up the rights to Neil Young’s catalogue of songs as it ploughs ahead with its musical acquisition spree. The London-listed firm has taken a 50 per cent stake in the Canadian rock ‘n roll star’s portfolio of 1,180 tracks. Hipgnosis did not disclose the value of the deal, but industry experts have [...]
Richard Sharp: Who is the surprise new frontrunner for the BBC top job? January 6, 2021 Speculation over the top contenders for the BBC chairmanship has been rife in recent weeks, with a string of well-known names entering (and exiting) the fray. But the race was this week thrown wide open after it emerged a relatively unknown candidate had emerged as the new frontrunner Richard Sharp, a multi-millionaire former Tory party [...]
Informa profit plunges as pandemic shutters events January 6, 2021 Events group Informa forecast a plunge in profit in 2020 as the coronavirus pandemic brought the events industry to its knees. The FTSE 100 firm, which is the world’s largest exhibitions group, said it expected adjusted operating profit in the range of £250 and £270m. This is down from £933m in 2019. Revenue is set [...]
