Peppa Pig owner’s shares plummet as ITV withdraws takeover bid August 25, 2016 ITV has withdrawn its proposal to acquire Peppa Pig owner Entertainment One (EOne).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 Morning Wire: “I still hold out the hope that sense will [...]
BBC exec: It’s not in licence fee payer interest to know how much stars are paid August 24, 2016 A BBC executive has argued that it would not be in the interest of licence fee payers to know how much the corporation’s biggest stars are paid. Charlotte Moore, controller of BBC One, said this would inevitably drive fees up because all talent would want to be paid the top amount. Read more: BBC not happy [...]
Facebook, Twitter and others are set to snatch £450m from news industry revenue by 2026 August 24, 2016 Internet giants like Facebook and Twitter could cost the UK news industry around £450m in revenue by 2026, a new report has suggested. Online “disruption” has cost the industry 46 per cent of its turnover in the last decade, according to estimates from OC&C Strategy Consultants. And the traditional newspaper industry, covering both national and [...]
TalkSport owner reports falling profits ahead of takeover by Rupert Murdoch’s News Corp August 22, 2016 Wireless Group, which has agreed a deal to be sold to Rupert Murdoch’s News Corporation, has reported falling profits in the first half of 2016. The figures The owner of TalkSport, which sold its TV business to ITV for £100m in February, reported group revenue from continuing operations of £38.2m in the six months to [...]
The psychology of gaming: Woobi founder Chaya Soggot reveals the secrets to in-game mobile advertising August 22, 2016 The penetration of mobile gaming shows no sign of letting up. In 2014, 46 per cent of mobile phone users in the US were gaming on their devices, according to Statista. Last year, that figure surpassed the 50 per cent mark, and is expected to hit 63.7 per cent by 2020. But mobile game publishers have [...]
Digital disruption comes to TV production with new online “stock market” August 21, 2016 Watch out, TV production industry: digital disruption is coming. At least it will be if David Frank, the founder of independent TV production company RDF Media and former chief executive of international company Zodiak Media, is successful in his new venture. Three years after stepping down from his position at Zodiak, Frank along with his brother, [...]
Martin Sorrell’s WPP – dubbed the bellwether of the global economy – set to report soaring sales and profits August 21, 2016 Sir Martin Sorrell’s WPP, known as the bellwether of the global economy, is set to report soaring profits and sales in the first half of 2016 this week. City analysts expect the advertising giant to report headline profits before tax and interest of around £755m – up nearly 13 per cent on the first half [...]
ITV’s takeover offer for EOne not nearly pig enough for investors August 21, 2016 ITV is likely to have to raise its bid for Entertainment One (EOne) by at least 20 per cent if it is to tempt the owner of Peppa Pig, reports suggest. The broadcaster had a 236p-per-share – equal to around £1bn – offer turned down by EOne, a Canadian company listed in London, earlier this month. It has [...]