Films lift profits at Ingenious

HIGHER receipts from films it has backed drove profits at media-advisory firm Ingenious Media 39% higher to £28m last year.

Ingenious, whose film partnerships include recent releases such as Ben Stiller’s Night at the Museum, right, has diversified into asset management, consulting and corporate finance, but closed its short-lived broking arm.

It has long advised Britain’s showbusiness elite, including Robbie Williams and TV producers looking to sell or float their firms.

Warning to beer cheats

ENTERPRISE INNS, the pub group, has accused some wholesalers of helping tenant landlords breach their beer-supply contracts.

Publicans who run Enterprise pubs are obliged to buy beer via the company.

However, Enterprise said last week it had evidence that some wholesalers were helping tenants buy beer outside this arrangement. Enterprise warned it would report incidents to Revenue and Customs.

Deal close on Wyevale

THE ENTREPRENEUR Sir Tom Hunter is close to agreeing a debt-for-equity swap deal with HBOS to prop up his troubled Wyevale Garden Centre chain.

After more than two months of restructuring talks over the chain’s £360m debt pile, an agreement is expected to be announced by Christmas. Although the final details are still being hammered out, HBOS is likely to swap some of the debt for a larger equity stake in the business.

New talks on Woolies

DRAGONS’ DEN star Theo Paphitis has re-ignited his interest in failed high-street retailer Woolworths.

The judge on the BBC reality TV show, and his advisers have held fresh talks with administrators Deloitte about plans to keep the Woolworths name on the high street, with a core portfolio of about 300 stores.

It is thought he has held talks with Tony Page, the former Asda director who runs the Woolworths’ store arm.

Bid to end FM radio signal

A RADIO-INDUSTRY alliance will this week pile pressure on the government to begin switching off the FM signal in 2017 to promote digital radio. The Digital Radio Working Group, which comprises broadcasters, set manufacturers and consumer groups, will predict digital radio – including stations aired on the internet and TV – will reach 50% of all listeners by 2015, up from 19% now. At that point a switchover from FM to digital should be planned within two years for all national radio stations. However, the report does not suggest who will pay the estimated £100m bill to build a nationwide digital transmission network. There are 8m digital sets in circulation.

Separately, commercial trade body RadioCentre is stepping up its campaign against BBC Radio 1. It says the station, whose DJs include Jo Whiley (left), has strayed too far from its remit of targeting listeners aged 15-29.

JJB’s sporting chance diminishes

16.1% THE fall in JJB Sports’ share price on Friday after one broker’s comment that the embattled retailer will find it hard to avoid having to stage a debt-for-equity swap.

7.75p THE price at which JJB Sports shares closed, a new record low for the group, which has said it may no longer sell two of its noncore shop chains.

Times Recommends

• Minister in talks with Saudis to protect creditors
• Premier Inn hits back in £29-a-room row
• Bankers hit back at 'populist' bonus supertax