Notes: 11 July

Hard times for Emap with 1st quarter revenues down 3% and consumer advertising down 13%. Perhaps surprising to see then that they are selling the French expo business. Ok they are getting £85mn for it, which they say is a good return on their investment - but surely selling the family silver doesn't bode well for long term growth?

Also tough times for webcasters. Whilst the battle rolls on about royalty free music, this clearly doesn't extend to web DJ's. Whilst it's perhaps fair that they shouldn't run business' on the back of (illegally) free content, it certainly doesn't help perpetutate choice esposed by the long tail theorists!

Finally yahoo continues their spending spree, buying the outstanding 80% of ad exchange, Rights Media