Time Warner raised its profit outlook for 2009 boosted by better than expected results at its cable channels and films division, even as it reported a 40 per cent lower net income for the third quarter. The owner of CNN and the Warner Bros movie studio said it will take a $100 million charge for […]
The video search company blinkx is offering increased stakes to existing shareholders to raise £5 million (E5.5n) after burning through £13 million of its cash reserve in the past year on infrastructure costs. blink has seen its cash reserve plummet from $32 million to $10.7 million in the year to the end of September. In […]
News Corp Chief Executive Rupert Murdoch said he doesn’t plan to rush into any huge acquisitions, including NBC, as News raised its fiscal 2010 earnings outlook following better-than- expected first-quarter results amid an improving ad market. The company declined to comment on the Travel Channel negotiations, citing disclosure agreements. Murdoch said the company will be […]
Liberty Global's third-quarter loss – its fifth in a row – narrowed on higher sales and smaller effects of foreign-currency exchange. Chief Executive Mike Fries said the company demonstrated consistent growth in operating cash flow in the first three quarters of the year and expects to be at the high end of its forecast for […]
Virgin Media beat analysts’ forecasts for the third quarter, adding 8,100 net new cable TV households and boosting revenues by 1.3 per cent to £953 million (E1.06bn). The cable operator reported a year-on-year increase in operating cash flow of 6.8 per cent to £348 million for the quarter. Virgin Media added 37,000 customers to its […]
In a trading update ADB Group says: "The margins and profitability ratios continue to be in line with expectations. The top line growth remains lower compared to previous years, as indicated in the full-year guidance. The Group also enjoys a strong financial position maintained throughout the quarter. The demand from cable and satellite segment remains […]
NBCU had a lopsided Q3, as earnings grew 13 percent to $732 million even as revenues dropped 20 percent to $4 billion from $5 billion. NBCU's troubles are attributed to its declining broadcast business, which offsets gains on the cable side. There is much speculation parent GE is about to do a deal to buy […]
Canada's largest media company, Canwest Global Communications, has filed for bankruptcy protection as it struggles to unearth itself from a C$4bn (£2.4bn) mountain of debt. The sprawling empire owns a range of broadcasting and print businesses. Canwest’s chief executive, Leonard Asper, said business would carry on as usual despite the legal process: “We are firmly […]
YouTube will spend approximately $300 million on bandwidth in 2009 — meaning it won’t be profitable, according to an analysis by Credit Suisse. According to the report' authors that means YouTube still would not be profitable at the gross level this year, given their original 2009 revenue estimate of $240 million (a top-line increase of […]
From Branislav Pekic in Rome Italian commercial broadcaster Mediaset has for the first time surpassed RAI in terms of turnover thanks mainly to revenue from pay-TV. In 2008, Mediaset's turnover was up 9 per cent to E3.27 billion, while the public broadcaster saw a drop of 0.7 per cent to E3.21 billion. Additionally, RAI is […]