Daily Telegraph hacks were treated to a gloomy set of financial forecasts this week, with even The Times’s coverage of the Telegraph Group’s £9.8 million 2006 net loss used to amplify the point. Whether this is the beginning of the build-up to further redundancies is unclear, but the blunt message to the union is that all pay demands ought to be moderated. Got to cut the losses somehow.

Paul Jackson, the new managing director of Capital Radio, has already begun wielding the axe. Bam Bam, the controversial evening show host, has gone as part of a wider schedule shake-up. The move comes just nine months after Bam Bam - real name Peter Poulton – joined the GCap Media-owned London station. GCap threw its marketing weight behind the show with a massive poster campaign. Ralph Bernard, the outgoing chief executive, was a fan, but maybe his views count less now.

ITV is putting the finishing touches to a “radical” prime-time schedule revamp, marking the return of Sir Trevor McDonald and News at Ten next year. The broadcaster will focus on making programmes (incredibly) rather than moaning at regulators. Attacking Channel 4 over its remit, a favourite theme of Charles Allen, is seen as a waste of energy and even the campaign on contract rights renewal restrictions will be conducted at a lower temperature. But with about 25 programme titles to launch next year, some ageing ITV favourites may be cut.

Radiohead are to close the download area of their In Rainbows website on December 10. In a posting on their Dead Air Space blog titled “The End of the Beginning”, the band said that the “download area that is In Rainbows will be shutting its door”. Enough publicity has been achieved, and one suspects that the fans who were prepared to pay all have.

Rumour has it that Phil Riley, who has been advising Veronis Suhler Stevenson’s and Vitruvian’s joint bid for Emap radio, has already been approached by GCap headhunters. As the Riley-led bid for the stations looks unlikely, could the former Chrysalis Radio boss be the right man to turn round the stricken company?

Marty Bandier, the former head of EMI’s music publishing arm, was asked in Record of the Day, the music news subscription service, if he regretted not having Guy Hands as boss. “Are you kidding! No. But I have the feeling he may regret I am not there.”

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