LONDON: Ailing UK media group Emap revealed a further slide in underlying revenues during the last three months. The company's annual shareholders meeting was informed of an 8% year-on-year fall.
The company, whose portfolio includes magazines and radio stations, saw the former's advertising revenues plummet 13% and circulation decline by 4%. Radio income slipped 2%.
Emap is currently searching for a new ceo to replace Tom Moloney [WARC News: 21-May-07] and says its cost cutting strategy is on course to save £20 million ($40.6m; €29m) by 2009.
Data sourced from mad.co.uk; additional content by WARC staff