Media Sector

Tony Ball and ITV yet to agree on terms of employment

Former BSkyB boss, Tony Ball and ITV are yet at loggerheads over the terms and conditions of employment since last week when Tony Ball was offered the job of chief executive of ITV.

Speaking on the topic, a person close to Tony Ball said, "The nominations committee is considering a contract proposal from Tony, and he is waiting to sort it out." Intimate sources informed that negotiations over Mr. Ball's remunerations have reached a stalemate.

Johnston Press agrees £485m financing deal after posing 56% fall in profits

British regional newspaper publisher Johnston Press has approved a new three-year £485 million financing facility with its banks after reporting a fall of over 56 per cent to £27.5 million in the pre-tax profits for the first-half of the year.

The publisher of the Scotsman and Yorkshire Evening Post said its revenue stood at £218.6 million, down 25.4 per cent and advertising revenues dropped by 32.7 per cent.

UTV posts 29% fall in profits due to falling ad revenues

Media firm UTV, which owns the ITV Northern Ireland franchise, TalkSport and Sport magazine, has posted a fall of 29 per cent in pre-tax profits for the six months to the end of June 2009.

UTV's radio operating profit stood at £8.2 million, down by 16 per cent. Overall revenue from radio operations dropped by £2.1 million to settle at £33.1 million.

A droop in advertising revenue dragged company's pre-exceptional profit down to £11 million as compared with £15.4 million last year.

Ad firm WPP posts 47% fall in pre-tax profits

WPP, world's leading advertising firm, has reported a drop of 47 per cent in pre-tax profits to £179 million for the first half of the year to June, depicting the adverse impact of global economic downturn on the advertisement industry.

WPP, the owner of the Ogilvy & Mather Worldwide public relations company, witnessed a drop of 8.3 per cent in underlying revenues for the first half of 2009.

Speaking on the topic, WPP said, "The impact of the recession on the group's profitability in the first half was severe."

Legal loophole makes 1984 Video Regulations Act unenforceable

In UK a number of prosecutions have been dropped after the Department for Culture Media and Sport came to know that the 1984 Video Regulations Act had not been properly approved.