Telegraph publisher reports falling profits in “challenging” environment September 3, 2016 The publisher of the Daily Telegraph has reported falling profits, in line with many other Fleet Street titles this year. The figures Telegraph Media Group (TMG) which is owned by Sir David and Frederick Barclay, has reported an operating profit of £51.7m in the 53 weeks to 3 January this year. The company’s operating profit in [...]
Guardian publisher and private equity firm sell off £200m of shares in media company September 1, 2016 The publisher of the Guardian and a private equity firm have cashed in £200m of shares in business media firm Ascential. The company, which publishes magazines and owns the Cannes Lions Festival, first floated on the London Stock Exchange earlier this year. Read more: Guardian newspaper losses accelerate amid industry's advertising struggles The loss-making Guardian [...]
These are the best big media companies to work for, as rated by employees September 1, 2016 Channel 4 and Immediate Media, home of the Radio Times, Top Gear and Horrible Histories magazines, have been named as the best big media employers in the UK. Online jobs and workplace reviews platform Glassdoor has compiled a list of the large media companies rated best by their own employees. Read more: Vice founder predicts [...]
Why the “outmoded” licence fee should be dropped – for the sake of customers and the BBC September 1, 2016 The BBC licence fee should be abolished for the good of customers and the corporation itself, a new report out today argues. The Centre for Policy Studies (CPS) paper said the government had missed an opportunity for serious reform in its charter review earlier this year. The report, authored by Martin Le Jeune, argues for [...]
The BBC iPlayer loophole is closing tomorrow: Here’s what you need to know August 31, 2016 The law around the licence fee is changing tomorrow. It is now illegal to watch BBC programmes on demand, including on the iPlayer, without paying the £145.50 annual fee. Here is what you need to know: Do I need to do anything if I already have a licence? No. If your household is already covered [...]
James Bond studio Pinewood’s sale to private equity house gets green light from Financial Conduct Authority August 30, 2016 The iconic studio behind some of the biggest blockbusters of recent years – including the latest James Bond and Star Wars films – is closer to being sold to a private equity fund after getting the approval of the City watchdog. Pinewood Group, the owner of Pinewood Studios, recommended a £323.3m offer from Aermont Capital – [...]
This TV company doesn’t appear too concerned about Brexit: “We have very little to say” August 25, 2016 STV’s shares rose three per cent on Thursday as the Scottish broadcaster reported no impact from Brexit. The company reported a five per cent increase in revenue to £56.2m, while earnings before interest, taxation, depreciation and amortisation were up 15 per cent in the first half of the year. STV also reported pre-tax profit of £10.2m, [...]
Peppa Pig owner’s shares plummet as ITV withdraws takeover bid August 25, 2016 ITV has withdrawn its proposal to acquire Peppa Pig owner Entertainment One (EOne). The broadcaster, which had a £1bn bid rejected earlier this month, said its valuation of the company appears "different to the level at which the board of EOne would currently engage in a more formal process". EOne's shares plummeted 13 per cent [...]
Vice founder predicts traditional media consolidation “bloodbath” August 24, 2016 Traditional media companies beware. There is a “revolution going on”, according to Shane Smith, the chief executive of Vice. The founder of the youth media organisation has predicted a consolidation “bloodbath [in the sector]… and we will be sitting there laughing our heads off”. He also said older media organisations risk alienating youngsters who will soon themselves [...]
WPP chief and Remain campaigner Martin Sorrell wants second EU vote August 24, 2016 Sir Martin Sorrell, the founder and chief executive of advertising giant WPP, wants the British public to be offered a second vote on EU membership after Brexit terms have been negotiated. Sorrell, who campaigned for Remain in the run-up to the EU referendum, told City PM: “I still hold out the hope that sense will [...]
