REVIEW

Media shares were among the hardest hit by this week’s stock market downturn. BSkyB was down 100 to 1,421, the Daily Mail & General Trust was down 75 to 936, Emap was down 42 to 959 and Pearson was down 138 to 1,863. Financial Times

Media shares were among the hardest hit by this week’s stock market

downturn. BSkyB was down 100 to 1,421, the Daily Mail & General Trust

was down 75 to 936, Emap was down 42 to 959 and Pearson was down 138 to

1,863. Financial Times





Pearson Television is close to finalising the pounds 70 million purchase

of Talkback, the television production company founded by the comedians

Mel Smith and Griff Rhys Jones. Financial Times





The Advertising Standards Authority has received ten complaints about

TBWA GGT Simons Palmer’s press campaign for npower which features a

red-headed family alongside the slogan: ’There are some things in life

you can’t change.’ The ASA will decide in the next few days whether to

ask the company to pull the ads. Daily Mail





Mike Miller, BBC Television’s controller of sport, is quitting to become

the editorial director of the new web launch worldsport.com. Miller was

criticised after the BBC lost test cricket coverage to Channel 4 last

year. Carlton TV’s managing director, Clive Jones, and Pearson

Television’s Mike Southgate are seen as possible successors. General

release





Letizia Moratti, the former head of News Corp Europe, is launching

Goldenegg, a new telecommunications investment company. Moratti said

that Goldenegg will concentrate on the growing convergence between new

media and telecoms. Financial Times





CoconutStreet.com, the online recruitment specialist, has picked Western

to handle its pounds 6 million media planning and buying account. The

site’s first above-the-line advertising, from Lowe Lintas & Partners,

will appear in autumn. General release





Interbrew, the Belgian owner of Stella Artois and John Labatt, is close

to finalising plans for a stock market flotation. The Belgian beer

maker, which is expected to be valued at dollars 8 billion, has alerted

staff that it is reviewing funding sources for future acquisitions. The

Sunday Telegraph





Yes Television has shelved plans for an pounds 800 million flotation.

The video-on-demand provider pulled the plug at the last minute after

last Friday’s heavy falls on the US stock market. Yes was earlier

blasted by Hull-based Kingston Communications for over-hyping the extent

of Kingston’s involvement in the venture. Financial Times





Channel 4 is to launch a new peaktime gameshow, The E-Millionaire Show,

this May. The newscaster Jon Snow will ask members of the public to

pitch ideas for dotcom businesses, with the winner getting pounds 1

million to invest in their project. The Guardian





Filmgroup, the film distribution and video-on-demand group, has

announced plans for a flotation with an expected value of between pounds

200 million and pounds 300 million. The company, formerly known as

Redbus, has emerged as one of the fastest growing film distributors in

the UK. Financial Times





Kirch, the German media company, and Vivendi, the French media and

utilities group, are in early stage discussions about injecting assets

into Platco, the new company that Rupert Murdoch is planning to form

from News Corp’s satellite TV and digital interests. Financial Times.