Channel 5 has raised up to pounds 140 million for future
developments through a bank syndicate. The loan will limit the exposure
of the channel’s shareholders and increase the return on their
investment. The chief executive, David Elstein, described the loan as ’a
testament to the success of the retuning operation, the steady rise in
our audience reach and viewing figures’.
Ian Hargreaves, the editor of the New Statesman, has announced that he
is leaving the magazine ’to pursue a number of ventures’. He will
continue to be a director of the magazine and will remain in the job
until a replacement is found. Hargreaves, a former editor of the
Independent, joined the New Statesman two years ago.
The International media group, CLT-UFA, is looking to sell its UK radio
interests for more than pounds 65 million. It plans to sell its 80 per
cent stake in Atlantic 252 and its 62 per cent stake in Talk Radio UK
and Country 1035. Bids are expected by the end of April.
Laser Satellite and Cable, the sales operation which sells airtime for
the Gran-ada Sky Broadcasting channels, has parted company with its
sales director, Andy Hawkins. Hawkins said: ’I’ve achieved as much as I
am able and the job has run its course.’
BT is poised to buy Demon Internet for about pounds 60 million. Demon,
an Internet access provider, was set up in 1992 and now boasts more than
175,000 customers. It made losses of pounds 2.9 million last year
although its turnover doubled to pounds 18 million. The company’s
founder, Cliff Stanford, is expected to make about pounds 30 million
from the sale.
The National Magazine Company has appointed Elaine Luff as head of
licensing following the departure of Dominic Furey. Luff joins from MTV
where she was business development account director responsible for
licensing and merchandising as well as sponsorship and advertising on an
Cartoon Network has overtaken all cable and satellite channels for the
housewives with children audience, according to its latest viewing
figures. The channel’s average monthly rating of 1.05 TVRs in February
is its highest ever, up 24 per cent year on year. The channel claims
that its rating of 2.27 for kids secures its position as the top cable
and satellite channel in that age range.
London News Radio has appointed a new head of local and regional sales.
Nick Williams has joined the company, which operates News Direct and
LBC, from the GWR Group station Mercia FM, and will be responsible for
managing LNR’s six-person local and regional sales team. He replaces
Nick Jordan who has moved to LNR’s national sales team.
Anna Harvey, the deputy editor of British Vogue, has been promoted to
editorial director of Conde Nast new markets Europe/Africa and editorial
director of Russian Vogue. She will work alongside Godfrey Deeny, who
has been editorial director of new markets Europe/Africa since last
Blockbuster Video is using the youth cable TV channel, Rapture, for its
first TV activity of 1998 by signing up as sponsor of the top ten videos
chart on Rapture’s ACNY (At a Cinema Near You) show. The deal,
negotiated by Steve Huddleston at Media Solutions, includes on-screen
branding, competitions and giveaways.
Attic Futura’s teen title, TV Hits, has signed Twix to sponsor a CD
covermount with 17 tracks from artists such as Eternal, Louise and
Boyzone. Twix branding will be featured on the CD and sponsored
editorial will run over a number of issues. The deal, worth around
pounds 100,000, was planned by the Braben Company.