February 2008

Yahoo! rejects Microsoft offer

The Yahoo! board has rejected Microsoft's bid for the company detailing that it believes that the bid "substantially undervalues Yahoo, including (its) global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cashflow and earnings potential, as well as ..substantial unconsolidated investments." This is despite the bid representing a 62% premium on Yahoo's closing share price. The offer at $31 per share valued the company at $44.6Bn.

BSkyB and Virgin to challenge Competition Commission

BSkyB is to formally launch a challenge to the Competition Commission ruling that it must reduce its 17.9% stake in ITV Plc to below 7.5% by lodging an appeal with the Competition Appeal Tribunal arguing that the Competition Commission has failed to meet the burden of proof required to justify its conclusions. Virgin Media has also launched a legal challenge against the Competition Commission's ruling as they dispute that the reduction in Sky's ITV stake would adequately address "a substantial lessening of competition" and believe that the Commission has not interpreted the rules protecting the plurality of UK media correctly.

OFT looking at Dunfermline Press deal with Trinity Mirror

The Office of Fair Trading is considering whether to accept undertakings instead of referring the completed acquisition by Dunfermline Press Ltd (DPL) of eight Berkshire newspaper titles from Trinity Mirror plc. The OFT has put in place 'hold-seperate' undertakings on Dunfermline Press as the deal has given control over the only two local newspapers in the Slough/Windsor/Eton area to only one company. Only one out of the eight acquired titles creates a problematic overlap. DPL has chosen to offer to divest relevant assets to a specified purchaser.

Dennis Monkeymag.co.uk bucks mens mag trend

In another example of the strength of digital publishing Dennis Publishing's mens market e-zine Monkey (www.monkeymag.co.uk) has recorded an increase in its Audit Bureau of Circulation figures to a high of 271,667, up 10.7% month on month, and the third month of growth in a row. Dennis plan further digital expansion with the launch of gadget e-zine Gizmo. The growth in audience figures for Monkey contrast significantly with those for printed mens magazines with the ABCs for July to December showing the sector sold 14.4% fewer magazines year on year. Emap's Arena circulation fell 29.9% year on year to 34,556 copies, and FHM circulation was down 25.9% year on year to sell an average 371,263 copies each month and Zoo circulation was down 21.5% year on year to 204,564. Zoo's great IPC owned rival, Nuts, was down only 3.8% year on year at 295,002 copies each week, however Loaded's circulation was down 29.9% year on year to 162,554 copies.

Reed Elsevier to sell RBI

Reed Elsevier is to sell of its Reed Business Information division to reduce its exposure to the vagaries of the advertising market. Due the credit situation a swift sale is not expected, and the company would consider a de-merger or a break up of the B2B magazine portfolio. In 2007, RBI generated revenues of £906M and operating profit of £131M, with advertising generating 60% of revenues. The company's share price jumped 7.5% after the announcement.

BBC Worldwide seeking PE partner

BBC Worldwide has been reported as approaching private equity firms about teaming up to raise cash in order to fulfil its acquisition plans. BBC Worldwide is restricted by the Treasury to an annual borrowing limit of £350M. By teaming up with a private equity partner BBC Worldwide could acquire larger companies by taking smaller stakes. All BBC Worldwide profits are used to supplement the Licence Fee. BBC Worldwide reported record pre-tax profits of £111M in 2007.

Another possibility which has been reported is that the BBC is considering the sale or floatation of BBC Worldwide, with the view to raising more than £500M. BBC Worldwide is valued at more than £2Bn.

GCaps new strategy and another rejected offer

GCap Media has rejected a revised offer of 202p per share from Global Radio believing it to "significantly undervalue the company". The new offer was 6% higher than the initial offer of 190p made in December 2007.

In response to the prior offer, GCap Media's new Chief Executive Fru Hazlitt had announced plans through which she expects to increase 2008/9 profits by £10.3M and reduce revenues by £13.2M. The plans involve revising the "no more than two ads in a row" policy which cost the company £5.8M in lost revenue in 2007/8, the sale of the three non-London Xfm stations, the closure of digital stations TheJazz and Planet Rock, and the sale of GCap's 63% shareholding in the Digital One DAB multiplex to partner Arqiva. If GCap is unable to sell the Xfm stations it will hand back the licences to Ofcom on 28th March. Arqiva will pay a nominal fee for GCap's Digital One share, but will allow GCap to terminate at no cost its transmission contracts except for Classic FM. GCap will also push for the switch-off of the AM platform on which it has the 25 station Gold classic hits network.

SMG has four bids for Virgin

SMG Plc shares rose 3.45% on the news that has received four offers of between £60M and £70M for Virgin Radio. The bidders are Global Radio, UTV, Absolute Radio and Astro All Asia Networks backed by Malaysian billionaire Ananda Krishnan. SMG itself values Virgin Radio on its books at £85M.

Haynes going Dutch

Haynes Publishing Group plc has bought Soest, Holland based provider of technical information to the professional automotive market from Vivid Holdings BV. Consideration was €8.0M (£6.0M) in cash. For the financial year ending 31st December 2007 the Vivid Group reported PBT of €0.9M (£0.7M) on revenue of €4.M (£3.2M) and had gross assets €2.9M (£2.2M).

Tarsus acquisition in China

Subject to Government approval, Tarsus Group plc has acquired a 50% stake in Hubei Hope Exhibition Company Limited from Hubei OIN-Hope Exhibition Service Ltd.  Hubei Hope organises 27 exhibitions in in three sectors: medical equipment, industrial equipment and leisure. Initial consideration in the deal will be RMB 12M (approximately £850K) with a further RMB 3M (approximately £200K) paid subject to performance. In addition, both Tarsus and the vendors have committed to invest a further RMB 5M (approximately £350K) each in the business. Altogether these payments would produce a maximum total consideration of RMB 20M (approximately £1.4M). Hope's unaudited revenues and PBT for the year to 31st December 2007 were RMB 21.1M (approximately £1.5M) and RMB 4.3M(approximately £300K) with net assets of approximately RMB 8.3M (approximately £590K).

Archant regional additions

Archant Life has acquired four new magazines. They are Compass Magazines, consisting of a portfolio of three magazines, two monthly letterbox titles and an annual tourist guide, in Bournemouth and Southampton, Archant has also acquired a fourth monthly title, Compass Wey, currently published under a franchise agreement and based in Farnham. Vendors in the transaction were Peter Cranham and Colin and Maria Lansley. No financial details of the transaction have been disclosed.

Official release here: http://www.archant.co.uk/news_article.aspx?aid=74

Microsoft Israeli deal

Microsoft Corp. is to acquire Israeli online advertising solutions provider YaData Ltd. No financial details of the transaction have been disclosed, although reports have indicated the value as being between $20-$30M.

Commonwealth buys aviation data business

United Business Media plc subsidiary Commonwealth Business Media has acquired AeroStrategy's aviation data business from its founders for an initial cash consideration of $0.9M, with an earn-out of up to $1.2M payable over the next three years subject to performance.

Official release here: http://www.unitedbusinessmedia.com/ubm/media/releases/2008/2008-02-26/

Haymarket German acquisition

Haymarket Media has made an acquisition in Germany buying media, advertising and communications magazine The Kress Report, and its associated website and directory. The title will join Haymarket Media GmbH. No financial details of the transaction have been disclosed.

Official release here: http://www.haymarket.com/newsarticle.aspx?news=210

Lagardère buys stake in Doctissimo

French media group Lagardère SCA is buying a 53.38% stake in French female focussed online publisher Doctissimo from its founders, for approximately €109M, based on a price of 30.50 euros per share. This gives the company an enterprise value of €138M. In 2007, Doctissimo generated revenues of €11.47M up 75% from its 2006 figure of €8.65M.

Official release here: http://www.lagardere.com/press-room/press-releases/press-releases-363.html&idpress=3504

Internet Brands buys Nine sites

US online media specialist Internet Brands Inc, has bought nine new websites, eight are online auto enthusiast communities and the remainder is a community site for dog owners and lovers. The sites acquired are: - 6SpeedOnline.com, Rennlist.com, G35Driver.com, MyG37.com, My350z.com, ZDriver.com, NorthAmericanMotoring.com, ScoobyNet.com, and PuppyDogWeb.com.

Official release here: http://investors.internetbrands.com/releasedetail.cfm?ReleaseID=295477

Getty Images finds a buyer

Subject to shareholder approval, Getty Images Inc. is to be acquired by affiliates of the private equity company Hellman & Friedman in a deal worth approximately $2.4Bn (including the assumption of existing debt) in which shareholders will receive $34 in cash for each share which represents a 55% premium. Barclays Capital, GE Commercial Finance and RBS Greenwich Capital are providing debt financing.

Guinness World Records has a new home

Apax Partners owned, HIT Entertainment, has sold Guinness World Records to Canadian company Jim Pattison Entertainment Ltd (a subsidiary of the Jim Pattison Group). No financial details of the transaction have been disclosed although reports have indicated the deal is for around £60M.

MTV Networks buys parenting content

MTV Networks has acquired family focussed website network Babunga.com, including BabyNamesWorld, 3D Pregnancy, WikiParenting and PetNamesWorld. No financial details of the transaction have been disclosed.

Dolan Media buys The Mecklenburg Times

Dolan Media Co. has added to its legal portfolio with the acquisition of The Mecklenburg Times, a twice-weekly court and commercial newspaper, from Legal and Business Publishers Inc. No financial details of the transaction have been disclosed.

Official release here: http://investor.dolanmedia.com/phoenix.zhtml?c=211849&p=irol-newsArticle&ID=1108739&highlight=

TripAdvisor buys review site

Expedia owned TripAdvisor LLC has bought user-generated travel review site HolidayWatchdog.com from founders Chris Clarkson and Chris Brown. No financial details of the transaction have been disclosed. Clarkson and Brown will remain with their company, EStuff and continue to operate holiday sales site Sunshine.co.uk.

Nielsen Co. two analytics deals

The Nielsen Company has bought US TV analysis company Audience Analytics and its Audience Watch software. No financial details of the transaction have been disclosed.

In a separate earlier transaction, the Nielsen Co. made a “strategic investment” in NeuroFocus, a company that applies brainwave research to advertising, programming and messaging. The amount of the investment was not revealed. Nielsen CEO David Calhoun will become a member of NeuroFocus’ Board.

Official release here: http://www.nielsen.com/media/2008/pr_080214b.html 

and here: http://www.nielsen.com/media/2008/pr_080207.html

JMI ophthalmic addition

Wicks Group of Cos. backed Jobson Medical Information LLC, has bought Gerber Communications and Practice Advancement Associates, a provider of custom publishing services and training and education programs for the ophthalmic marketplace. No financial details of the transaction have been disclosed.

Official release here: http://www.jmihealth.com/about/news/jobson-medical-information-llc-acquires-gerber-communications.php

CurtCo Media sells Worth

CurtCo Media has sold wealth management magazine "Worth" to Sandow Media, which publishes Luxe magazine. No financial details of the transaction have been disclosed. CurtCo originally acquired Worth out of bankruptcy court in 2003 for $2.4M.

Info from Sandow Media: http://www.sandowmedia.com/Sandow-Thinks-Its-Worth-It.aspx

Bored.com sold for $4M

Oversee.net has sold the domain name Bored.com, and some related assets, for $4M to JW Media.

OnTargetJobs.com buys RegionalHelpWanted.com

Warburg Pincus affiliated, US recruitment site aggregator, OnTargetJobs.com has bought online jobs network RegionalHelpWanted.com for a reported but unconfirmed $100M. RegionalHelpWanted.com is reported to have annual revenues of $35M.

Official release here: http://www.ontargetjobs.com/aboutus/pressroom/regionalhelpwanted-ontargetjobs.htm

Glam Media only $84.6M in funding

After rumours about seeking $200M in funding, online advertising network, Glam Media has received $84.6M in funding, with $64.6M in fourth round venture funding and $20M in debt financing. The round was led by Hubert Burda Media with Hercules Technology Growth Capital provided the debt financing. The round values the company at around $500 million.

Official release HERE.

IMAC additional investment in Whizz Kids

AIM listed, Ingenious Media Active Capital Limited has made a further investment of £2M in tv production company Whizz Kid Entertainment, having previously invested £2.35M in June 2006. Whizz Kid is to use some of the new funds to acquire a controlling stake in Precious Media Limited , a joint venture with Peter Christiansen.

Official release HERE.

Bragster raises £1.6M

London based social network for dares and bets, Bragster.com, has raised £1.6M in VC funding led by Intel Capital.

Seatwave raises a further £12.8M

Online ticket reselling market Seatwave.com, has raised $25M (£12.8M) in a round of funding led by Fidelity Ventures, the company has previously raised $11M.

Nexopia investment from Burda

Burda Digital Ventures has invested an undisclosed but apparently substantial amount in Canada-based social net Nexopia.com. Following the investment founder Timo Ewalds will be replaced as CEO by Boris Wertz, former COO online book retailer Abebooks.com.

Howcast.com raises $8M

US "How-to" video website operator, Howcast Media (www.howcast.com), has raised $8M in a funding round led by Tudor Investment Corp.

Official release HERE.

Trinity Mirror strong performance in 2007

Trinity Mirror Plc in its preliminary results for 2007, report revenue from its retained businesses up 1.6% to £932.3M (2006: £917.2M) and operating profit up by 3.6% to £186.1M (2006; £179.7M). Digital revenues in the retained businesses have grown dramatically by 35.6% to £34.3M. Total revenue in the year including disposals was £1.010Bn (£1.073Bn), with operating profit of £208.9M (2006: £213.6M), and PBT of £191M (2006: £192M). Trinity Mirror spent £13.1M on acquisitions in the year, and disposals realised gross proceeds of £263M.

Centaur - positive first half

Centaur Media plc in its half year results to end of December 2007, report revenue up 6% year on year to £39M (H1 2007: £37M), with PBT down 24% to £2.8M (H1 2007: £3.7M), however adjusted PBT is up 22% to £5.0M (H1 2007: £4.1M), and adjusted EBITDA up 15% to £6.3M (H1 2007: £5.5M). Reported PBT is down due to exceptional items following the closure of Perfect Analysis. Total advertising revenues grew 9% in the period however Event revenues declined 4%, due to the closure of two events. The Legal & Financial segment revenues grew by 12% £13.M (H1 2007: £11.6M) with adjusted EBITDA of £3.4M (H1 2007: £3.2M). The Marketing & Creatives segment revenues increased by 4% to £10.6M (H1 2007: £10.2M) with adjusted EBITDA of £1.0M (H1 2007: £0.9M). The Engineering & Construction segment revenues were flat at £8.3M with adjusted EBITDA at £1.2M (H1 2007: £1.4M). The Perfect Information segment revenues were flat at £3.0M (H1 2007: £3.0M) with adjusted EBITDA for the period of £1.0M (H1 2007: £0.7m). The General Business Services segment revenues grew 8% to £4.2M (H1 2007: £3.9M) and adjusted EBITDA losses reduced to £0.3M (FY 2007: £0.7M loss).

Informa - 2007 results - another year of significant achievement

Informa Plc preliminary results for year ending 31st December 2007, revenue up on a pro forma basis 9% to £1.13Bn (2006: £1.04Bn) with operating profit up 20% to £154M (2006: £128M) and adjusted operating profit up 19% to £261M (2006: £219.1M). Profit before tax was up to £124.4M (2006: £86.5M) with adjusted PBT of £202.6M (2006: £178.1M). Publishing contributed 44% of Informa's revenue in 2007 at £495.0M, of which 60% was from subscription sales. Advertising revenues are just 3% of total Informa revenue. Events at £408.8m contributed 36% of Informa's revenue in 2007. Academic & Scientific segment revenue increased by 15% to £339.5M in 2007 of which Datamonitor contributed £13.9M. Adjusted operating profit increased by 25% to £96.9M in 2007. The Professional segment revenue increased by 7% on a pro forma basis to £393.3M or 35% of Informa's total revenue. Datamonitor and Investment Scorecard contributed £14.2M. Adjusted operating profit grew by 11% to £83.9M. The Commercial division, which also represents 35% of Informa's revenue, increased revenue by 7% to £396.3M. Datamonitor contributed £30.3M of revenue. Adjusted operating profit rose by 22% to £80.1M.

Wilmington -excellent progress in first half

Wilmington Group plc, in its interim results for the six months to 31st December 2007, report revenue from continuing operations up 13% to £39.9M (H1 2006: £35.3M), with PBT up 13.5% to £5.7M (H1 2006: £5.0M) The Legal and Regulatory division revenue grew 14.3% to £32.2M (H1 2006: £28.1M) with segment profits up by 9.8% to to £6.4M (2006: £5.8M). Wilmington Business Information revenue grew by 8.3% to £7.8M (2006: £7.2M) with segment profits from continuing operations up to £0.8M (H1 2006: £0.7M). The Groups performance is significantly weighted towards the second half of the financial year.

Reed Elsevier - strong 2007

Reed Elsevier has reported a strong financial performance in its preliminary results for 2007 with reported revenues up 2% to £4.584Bn (2006: £4.509Bn), and operating profit up 6% to £888M (2006: £837M). Adjusted operating profit rose 5% to £1.137Bn (2006: £1.081Bn). Elsevier showed a fall in revenue in the year to £1.507Bn (2006: £1.521Bn) however adjusted operating profit rose 3% to £477M (2006: £465M). Lexis Nexis revenue rose 2% to £1.594Bn (2006: £1.570Bn) with adjusting operating profit up 7% to £406M (2006: £380M). Reed Business revenue rose 5% to £1.483Bn (2006: £1.418Bn), with adjusted operating profit up 8% to £260M (2006: £241M). The Harcourt Education business was sold in two separate transactions with aggregate proceeds of £2.5Bn, representing 21 times 2006 adjusted operating profits, with net proceeds of £2.0Bn. Reed Elsevier plan to divest Reed Business Information (whilst retaining Reed Exhibitions), RBI generated revenues of £906M and an adjusted operating profit of £119M in 2007.

Quarto Group - solid 2007

Quarto Group Inc. in its preliminary results for 2007, report revenue up 7% to £100.1M (2006: £93.6M), operating profit up 39% to £9.6M (2006: £6.9M) and PBT up 45% to £6.7M (2006: £4.6M). Adjusted EBITDA rose 11% to £20M (2006: £18.0M), with adjusted operating profit up 10% to £10.6M (2006: £9.6M), and adjusted PBT up 5% to £7.7M 92006: £7.3M). The Publishing segment saw sales rise 12% to £61.7M with operating profits up 23% to £6.4M. The International Co-Edition Publishing segment saw revenues of £38.4M and an operating profit of £5.3M.

INM affiliate APN record Net Profit after Tax

APN News & Media Ltd, in which Independent News & Media PLC, has a 39.2% shareholding, has reported revenue up 9.4% to AU$1.314Bn, and EBITDA up 6% to AU$361.0M with a record Net Profit of AU$169.4M in 2007.

Yell- third quarter on track

Yell Group plc's financial report for the nine months ending 31st December 2007, shows revenue up 7.9% to £1.547M (2006: £1.434M ) with EBITDA up 12.8% to £531.5M (2006: £471.1M) and PBT tax up 23.4% to £216.3M (2006; £175.3M). Yell are on track to meet year end earnings and cash expectations.

Time Warner - 2007 results

Time Warner Inc. for 2007, reported revenue rose 6% to $46.5Bn, with operating income up 23% to $ $8.9Bn (2006: $7.3Bn) and operating income before depreciation and amortization up 17% to $12.9Bn (2006: $11Bn). Fourth quarter revenue rose 2% to $12.6Bn with operating income before depreciation and amortization up 16% to $3.5Bn and operating income up 12% to $2.3Bn.

BSkyB - hit by write down on ITV shares

British Sky Broadcasting Group plc for the half year to 31st December 2007 report revenue up year on yea by 11% to £2.458Bn, an operating profit of £295M, stated after a £103M investment in Sky Broadband, Sky Talk and Easynet Enterprise, and exceptional legal costs of £12M. The broadcaster has taken a £343M impairment on the value of its stake in ITV plc. Advertising revenue fell by £4M to £167M reflecting the non-carriage of BSkyB's basic channels on Virgin Media.

DMGT - first quarter ahead of expectations

Daily Mail and General Trust plc in its Interim Management Statement covering the first quarter of its financial year to 31st December 2007 indicate revenue up 2% year on year. Associated Newspapers' total revenues for the thirteen weeks to 30th December 2007 rose by 2% to £250M. Total advertising revenues in the quarter increased by 4%. Print advertising revenues increased by 4%, with display up by 5% and classified down 9%. Northcliffe Media, revenues for the thirteen weeks to 30th December 2007 were down 0.3% at £105M. UK advertising revenues for the first quarter were 1% down and comparable circulation revenues were 2% below the previous year. DMG Information's revenues for the three months to 31st December 2007 rose by 18% to £74M. Euromoney Institutional Investor revenues for the quarter to 31st December 2007 increased by 6% to £75M. DMG World Media revenues for the first quarter were down to £38M due to event timings. DMG Radio Australia revenues for the first quarter rose by 27% to £13M and the division broke even.

TechTarget - good fourth quarter

TechTarget Inc. has reported fourth quarter revenue up 23% to $28.4M (Q4 2007 $2.31M), with adjusted EBITDA up 13% to $8.4M (Q4 2006: $7.4M), and net income of $2.8M (Q4 2006: $2.8M). Online revenue in the quarter rose to $19M (Q4 2006: $15.4M). Total revenues for 2007 increased by 20% to $94.7M (2006: $79.0M) with adjusted EBITDA up 22% to $24.6M (2006: $20.1M). Online revenues, represented 67% of total revenues and were up by 24% to $63.7M (2006: $51.2M).

Lagardère - 2007 results

Lagardère SCA consolidated revenues for the year ending 31st December 2007 were up 8.5% at €8,582M. Lagardère Publishing (formerly the Books division) revenues were €2,130M up 8.6%. Lagardère Active (formerly the Press and Audiovisual divisions) revenue were down by 1.8% at €2,291M. The Magazines segment rose by 1.7% on a reported basis to €1,782M. The Broadcast & Broadband business revenues were down 12.6% to €509M. Lagardère Services (formerly the Distribution Services division) full-year revenues were up 3.5% at €3,721M. Lagardère Sports revenues were €440.0M.

Turbulent times for Metro International

Metro International S.A. announced its financial results for the fourth quarter ended 31st December 2007 sales increased by 12% to $139.2M (2006: $124.1M) with an adjusted operating profit of $9.8M (2006: $10.9M profit) Full year revenues were up 8.8% year on year at $ 453.0M (2006:$416.5M). The operating loss was $15.2M excluding a disputed Advertising Tax provision in Sweden of $10.2M and a net gain of $4.7M from the sale of 60% of Metro Czech Republic in December 2007 (2006: $4.6M profit excluding a capital gain of $12.3M from the sale of Finland). Including these two items the operating loss was $ 20.7M (2006: $16.9M profit).

News Corp. good second quarter

News Corporation second quarter revenues grew 9.5% to $8.59Bn, with operating income of $1.39Bn (£705M), up 24% year on year, and net income of $832M despite suffering a $50M net loss from its affiliates due to BSkyB's ITV shareholding write down. The Newspapers and Information Services segment reported second quarter operating income up 15 % to $196M, primarily due to growth in Australia, partially offset by increased depreciation in the U.K. associated with the development of new colour printing operations. HarperCollins reported second quarter operating income of up 24% to $67M.

Reorganisation at Centaur

Following a strategic review and new online focus, Centaur Media plc have implemented a reorganisation in which Tim Potter, MD Business Publishing, is to take direct responsibility for the key brands in the Marketing & Creative Division and as a result three senior Publishing Directors will leave Centaur to pursue other opportunities outside the Group.

Cunningham joins Johnston Press

Johnston Press has appointed Lori Cunningham, a former AOL UK Strategy Director, as its new Digital Strategy Director reporting to Tim Bowdler. He replaces Alex Green who left to join Virgin Media.

Another departure at Independent

Terry Grote, MD of The Independent and Independent on Sunday, is taking early retirement. His departure follows that of David Greene, Circulation and Marketing Director, and Tristan Davis, Editor of the Independent on Sunday in December 2007.

Meyercord promoted at Rodale

Michelle Meyercord has been promoted to Vice President and Director of Rodale International, reporting to Senior VP of Strategy and Business Development, Eric DeCavaignac.

News Corp promotion

Mark Williams has been promoted by News Corporation from his role as CEO of Sky Italia to the new role of CFO of Europe and Asia overseeing News International in the UK, replacing Stephen Daintith who has been named Executive VP and CFO of Dow Jones & Company. Williams will report to James Murdoch.

Redmayne moves to HCUK

Charlie Redmayne has been appointed as Harper Collins UK Director of Digital development reporting to CEO Victoria Barnsley. He joins from his current role as Head of Commercial Partnerships at Sky. Redmayne was founder of MyKindaPlace, which was bought by Sky in 2006.

New Chief Exec at PPA

Jonathan Shephard has been appointed as the new Chief Executive of the PPA, joining on the 1st April 2008.

Snalune joins Yell

Phillip Snalune has joined Yell from Virgin Media, as new media development director in the UK, he will report directly to the UK's Chief Marketing Officer, Helen Stevenson.