News in the Advertising And Media sector

Reader's Digest UK faces administration after the UK Pensions Regulator said it would not approve plans for a rescue deal from Reader's Digest Association Inc to inject £10.9m and a third of the UK business into the [more]

Digital agency Latitude - one of the country's largest online marketing groups - briefly entered administration last week, before being pulled out by a management buy-out backed by Vitruvian Partners, its private equity owner and an existing major sharehol [more]

PricewaterhouseCoopers has stepped up its efforts to find a buyer for the South Wales-based Valleywood film studios. Its owners Dragon International Studios and Westair Properties Ltd both went into administration in March 2008 and since then PwC have struggled to complete a suitable rescue deal in the current financial climate. Options looked at have included selling off assets, a trade sale and refinancing. [more]

Irish classified ads magazine Buy & Sell has been pulled back from the brink of receivership, after a company backed by Nelson and Elgin Loane - the family behind the Adare printing group - stepped in and paid an undisclosed [more]

Close Brothers has been hired to sell Bonded Services, the movie storage business, for up to £50m, according to a report by the Sunday Teleg [more]

A consortium of Scottish businessmen is attempting to purchase The Scotsman newspaper from struggling owner Johnston Press. [more]

The Observer newspaper, which could face being shut down as part of a strategic review for parent company Guardian Media Group, is beginning to attract unsolicited bids from third parties. [more]

East London-based radio station Club Asia, one of the main brands in the Asian youth market, has been placed into administration, and hopes to find a buyer quickly. [more]

Shiny Media, the UK-based online publishing business, has fallen into administration, firing up an immediate dispute between the insolvency practitioners, Wilson Field, in Sheffield, and internet entrepreneur Dan Wagner. [more]

Publisher McGraw-Hill has hired Evercore Partners to find a buyer for its underperforming BusinessWeek magazine, sources say. [more]

Dawson News' newspaper distribution arm is close to going into administration, after it emerged that it owes millions of pounds to newspaper gr [more]

Russian oligarch Alexander Lebedev, owner of the Evening Standard, may be considering a bid approach for The Independent and its Sunday sister as Sir Anthony O'Reilly prepares to step down from his chief executive role at Independent News &am [more]

It is thought likely that Setanta, one of Britain's largest sports broadcasters, will shortly be placed into administration as it has failed to secure a deal that would rescue the busi [more]

Hugh Hefner has decided to sell his £200million company Playboy after 56 years at the [more]

Independent News & Media (INM) is preparing to sell The Independent newspaper title as it struggles under a £1.24 billion mountain of debt, it has been reported by T [more]

Johnston Press, the publisher behind 300 publications in the UK, faces uncertainty if it does not secure new bank loans or sell its Irish newspapers at a good price. [more]

A Midland-based newspaper company has been placed into administration, the staff have been informed. [more]

It looks as though Entertainment Rights, the company behind Postman Pat, Rupert Bear and He-Man, will have to be sold in chunks as offers for the company are too low to cover its debt of more than £ [more]

Virgin Media is considering selling its television channels division in order to raise funds to help pay off its debt. [more]

ITV is considering the sale of its little-known business that rents TV channel slots on Freeview, in an effort to raise funds to fight off a sharp decline in advertising revenues and growing debt. [more]