INM mulls deeply-discounted cash call
22nd Jun 2009 07:03
Independent News and Media, the Irish publisher of the UK's Independent newspaper, said it is considering a deeply-discounted rights issue in order to partly repay a €200m bond that was due to be paid back on 18 May. As part of ongoing talks with its banks and stakeholders, the group has put forwar
Read moreLebedev near to Independent deal
11th Jun 2009 15:25
Russian oligarch and London Evening Standard owner Alexander Lebedev is said to be close to buying The Independent and Independent on Sunday newspapers. Talks with Irish publisher Independent News & Media are thought to be nearing a conclusion following a year of on-off discussions, with reports su
Read moreSector movers: WPP weighs on media sector
2nd Jun 2009 14:04
Advertising giant WPP is helping drag the media sector lower after another downbeat update. It said like-for-like sales in the first four month of the year dropped 6.7% after trading worsened in April. Not all media stocks are lower though. Marketing communications company Mission Marketing is high
Read moreBroker snap: Citi cooling on media stocks
1st Jun 2009 09:37
Citigroup has been reviewing the UK media sector and has turned colder on three of the main players. Daily Mail publisher Daily Mail and General Trust (DMGT) is downgraded to ‘sell’ from ‘hold’ by Citi, though the target price has been held at 250p. Citi has boosted its full-year earnings per shar
Read moreINM agrees standstill deal with bondholders
18th May 2009 10:51
Independent News and Media, the Irish publisher of the UK's Independent newspaper, has agreed a standstill arrangement over a €200m bond due to be paid back today. The group, which now has until 26 June to repay the debt, has also secured an additional €15m working capital facility from its banks f
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