H3G Group’s H1 2008 results showed static revenue and EBITDA slipping back into negative territory, neither of which bode well for the company’s target of being EBIT positive next year
After a protracted offer period, Scottish Media Group has finally sold its national commercial radio business ‘Virgin Radio’ to Bennett, Coleman & Company Limited for £53.2 million cash. The sale does not include the licence to continue using the brand name from the Virgin Group, so the station will be re-branded and re-launched by its new owner in autumn 2008. This report argues that, although the value of Virgin Radio’s main AM analogue platform is diminishing, the value of the accompanying FM licence in London could be significantly increased by the execution of a successful turnaround strategy. The London licence alone could reflect the price paid for the whole business, if the station’s rock music programming were to be made more relevant to consumers and advertisers in the capital
H3G Group’s growth continued to slow in H2 2007, and it is now growing at just 6%, versus 10% 6 months ago, with falling ARPU combining with static subscriber net additions
Unity Media sold its 14.58% stake in German pay-TV operator Premiere to News Corporation at the start of 2008, prompting speculation of a full takeover by News Corporation later in the year