SMG makes GBP1m bid for Grade's VCI
Article Abstract:
VCI, the video publishing company owned by Channel 4's former CEO Michael Grade, has received an offer to be purchased by Scottish Media Group (SMG) for 31.2 million pounds sterling. Analysts noted that SMG's cash bid for VCI is an attempt to counter forecast that its earnings from its core businesses will decline in 1997. SMG's projected losses are expected to come from increased cost from the digital startup, loss of the C4 rebate and the lack of growth in ad revenue. VCI Chairman Michael Grade noted the sale would make VCI part of a larger media group, enabling it to better serve its customers, employees and content suppliers.
Comment:
Offers to purchase VCI for 31.2 mil pounds sterling in cash
Publication Name: Broadcast
Subject: Mass communications
ISSN: 0040-2788
Year: 1998
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Southern Star buys GBP 3.5m Primetime
Article Abstract:
Primetime, an independent producer/distributor in UK, has been acquired by Southern Star of Australia for 3.55 million pounds sterling. Neil Balnaves, chief executive of Southern Star, said that Primetime will retain its name as well as offices in London, UK. Star, with a programming library of around 11,000 hours, will gain Primetime's catalog of 7,000 hours. Primetime founder and Chairman Richard Price and chief executive Richard Leworthy will assume consultancy roles with Southern Star for at least a year.
Comment:
Acquires Primetime, an independent producer/distributor of UK, for GBP 3.55 mil
Publication Name: Broadcast
Subject: Mass communications
ISSN: 0040-2788
Year: 1998
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Barwick launches ITV2 original slate
Article Abstract:
The director of programming for ITV2, Brian Barwick, has introduced the channel's first original programming. The largest commission from the indie sector to be aired on ITV2 has been won by Princess Productions with their hour teenage magazine chat show that is scheduled to run every weekday for one year. Another pop review hour long talk show contracted out is made by Carlton Television entitled The Mix. Other independent producers are lined up to provide new sports programming and shows.
Comment:
Has unveiled first group of original programming to be aired on ITV2
Publication Name: Broadcast
Subject: Mass communications
ISSN: 0040-2788
Year: 1998
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