Latest Financial Postings

10 May 2004

Incepta Group (full year 2003/4)
    Pre-tax profits for the parent company of PR agencies Citigate and the Red Consultancy fell by 31.4% to £11.6 million (€17.2m; $20.8m) in the year ended 29 February 2004.
    Turnover was down from £251m to £244.6m for the same period. The group has sacked 150 people or 7% of its workforce as part of an attempt to cut costs by £7m.

News Corporation (calendar Q3)
    Rupert Murdoch's media leviathan reported a 69% leap in net profits for the quarter ending 31 March. Operating profits rose 22% to $838 million (€694m; £466.5m) on revenues up 19% at $5.2 billion. The increase was fuelled by a rise in profits at the group's US cable TV channels and its Fox TV network.
    Murdoch indicated he is considering a new TV channel in the US. He did not elaborate, although analysts speculated it could be an Hispanic or business network.
    He also played down suggestions of an imminent deal with fellow mogul and News Corp shareholder John Malone.

Univision Communications (calendar Q1)
    The market's leading Spanish-language broadcaster reported net revenues of $352.9 million (€292m; £196.5m) compared with $316.5m a year ago. Univision's radio arm contributed $63.3m to the revenue stream and internet was $3.9m, up from $2.7m.
    The network, which in the quarter broadcast 48 of the top fifty TV programmes in Hispanic households, reported record audiences, attributing the growth to a rising preference among Hispanics for Spanish-language media.

Echostar (calendar Q1)
    The satellite broadcaster revealed operating income to the end of March was $122 million (€101m;£68m), down from $179m in the same period of last year, on revenues of $1.49 billion (€1.25bn; £838m).
    The company reported 360,000 new subscribers in the same period taking its total user base to 9.9m. The figures underline the continuing rapid expansion of satellite TV as it takes market share from cable operators. Analysts, however, were shaken to hear EchoStar spends an average of $530 to attract each new customer.

Data compiled from multiple sources; additional content by WARC staff