Disney reported higher second-quarter profit Tuesday despite lower earnings at its ESPN sports network, which has been under pressure with the rise of online streaming. Net income for the quarter ending April 1 came in at $2.4 billion, up 11.4 percent from the year-ago period. Revenues were $13.3 billion, up 2.8 percent. Strong points included […]
Culture Secretary Karen Bradley has asked regulators to examine Rupert Murdoch’s 21st Century Fox’s takeover bid for Sky. In a statement to parliament, she told MPs that media regulator Ofcom and competition regulator, the CMA, would be asked to investigate the deal. 21st Century Fox is offering £11.7bn for the 61% stake in Sky it […]
21st Century Fox has defended its £11.7bn takeover bid for broadcaster Sky after Culture Secretary Karen Bradley said she was “minded” to intervene in the deal. In a letter, the firm rejected the minister’s concerns about media plurality and broadcasting standards. It also said she had based her view on “seriously flawed” evidence. But it […]
Digital video revenues from providers including Netflix, Sky, Amazon and Apple reached £1,309.3 million in 2016, eclipsing packaged media for the first time.Data compiled by the Entertainment Retailers Association (ERA) shows UK physical revenues were down 16.9% to £893.6 million with both DVD and Blu-ray suffering double-digit declines.
ITV has reported a 14% fall in annual pre-tax profits to £553m as advertising revenues declined by 3%. The UK’s biggest commercial broadcaster said it continued to rebalance and strengthen the business and blamed “wider political and economic uncertainty” for advertising falls. It hailed a 13% increase in revenue from the ITV Studios division. Underlying […]
Newspaper firm Trinity Mirror has seen annual profit rise 24% after it bought local paper group Local World. Adjusted pre-tax profit in 2016 was £133.2m, as against £107.5m in the previous year. Trinity Mirror took control of Local World in October 2015 in a deal worth £220m, making it the UK’s largest regional news publisher. […]