Rupert Murdoch has sharply cut forecasts for News Corp, predicting lower ad revenue will see it suffer double-digit declines in operating income for this fiscal year, rather than the 4-6 per cent growth previously forecast. News Corp said it expects a low to mid-teens percentage drop in operating profit from the $5.13 billion it recorded […]
Cablevision Systems swung to a profit in the third quarter helped by additions to its Internet and phone subscribers during the period. The company had a net profit of $27.1 million, compared with a loss of $79.3 million a year ago. Revenue grew 15.4 percent to $1.745 billion partly bolstered by the additions of Newsday […]
International cable operator Liberty Global has reported a 17 per cent increase in third-quarter sales. Operating cash flow, which the company considers its key operational measure, rose 27 per cent to $1.17 billion in the quarter, helped by factors including organic growth and foreign exchange movements. Revenue was $2.65 billion from $2.26 billion, and Net […]
RTL Group Q3 figures show revenue steady at E4.05 billion and EBITDA profits up slightly to E577 million. The company said TV advertising market conditions were very mixed in the reporting period with Germany and the Netherlands reporting positive growth. Elsewhere, net TV advertising markets were down year-on-year with Spain and France reporting the most […]
Walt Disney has reported lower-than-expected profits for the fourth quarter after feeling the effects of the economic slowdown. The firm reported net earnings of $760m down from $870m a year ago. Revenue grew to $9.45bn from $8.93bn. Disney reported a sharp drop in hotel bookings and the tougher advertising climate hit its television networks. Its […]
Sky is reportedly in exclusive talks to acquire Tiscali's UK business. Sky has tabled an offer of £450m (E571m) for the UK business after last rival Carphone Warehouse pulled out of the auction The acquisition would be a major boost to Sky's broadband services, making it the third largest provider after BT and Virgin Media. […]
BSkyB has answered recent downbeat analysis with a better than expected 25 per cent increase in first quarter profits and the addition of 87,000 new customers, which takes the broadcaster past the nine million mark for the first time. Chief executive, Jeremy Darroch, said the business, which now has 9.067 million subscribers, had its best […]
Project Kangaroo, the joint venture between ITV, Channel 4 and BBC Worldwide to provide an online video on-demand service, will not pose a threat to competition, the project has said in its submission to the Competition Commission's inquiry. In 73 page rebuttal of competitors claims, Kangaroo insists it will not reduce competition in the nascent […]
Virgin Media has had a competition tribunal appeal rejected that, if upheld, could have resulted in rival pay-TV broadcaster BSkyB being forced to sell its entire 17.9 per cent stake in ITV. Last month Virgin Media lodged an appeal arguing that the Competition Commission failed to properly consider special rules governing the plurality of media […]
Shares in BT have plunged by 25 per cent to their lowest-ever level after it shocked the City with a profits warning. Shares sank below the price they floated at in 1984 after the telco admitted in an unscheduled trading update that earnings at its Global Services arm will be much lower than expected. The […]