Horseracing fans have backed a £15 million bond scheme that offers interest and discounts on tickets in return for helping to pay for the redevelopment of Cheltenham racecourse.

MEDIA veteran Richard Findlay is to step down as chairman of STV and will be replaced by Baroness Margaret Ford who was involved in overseeing the legacy issues for the Olympic Games in London.

Snoozebox, the temporary hotel operator, admitted it needs a “more rigorous approach to management” and extra funding to support its plans this year.

Travel agent Thomas Cook has taken another step towards calmer waters by announcing a £425 million fundraising with shareholders in a bid to cut debt.

ITV boss Adam Crozier hailed progress at the broadcaster yesterday after it outpaced rivals in the advertising market during a “good” start to 2013.

NEWSPAPER and website publisher Johnston Press has appointed David King as its next chief financial officer.

BID interest in gambling group Betfair ended yesterday after a consortium failed to tempt the company’s board with two improved offers.

GROSVENOR Casinos owner Rank yesterday warned full-year results will dip below last year due to freezing weather and the “roll of the dice”

Johnston Press, the publisher of The Scotsman, reported its first increase in operating profit for almost seven years and said it was on track for a strong performance in 2013.

ITV answered its City critics by snapping up a controlling stake in American production outfit High Noon Entertainment as the broadcaster continues to reduce its reliance on advertising revenues.

A TECHNOLOGY firm that has helped to deliver food to Butlins holidaymakers and Heart of Midlothian football fans has sealed its first deal in the United States.

ITV chief executive Adam Crozier is coming under increasing pressure to “splash the cash” by snapping up other production companies and investing in its own programmes.

FORGET Sir Alex Ferguson. The real sports news lies in the impending clash between league champions BSkyB and upstart BT, in the lucrative pay-TV market.

Thomson owner Tui Travel is enjoying its strongest summer booking season in six years, with demand boosted by sun-seekers.

Plans to turn the Sunday People into a new-look tabloid to occupy the gap left by the closing of Rupert Murdoch’s News of the World look likely to be shelved after talks to spin the paper into a joint venture ended yesterday.

SHARES in BT surged to their highest level in five years yesterday after strong annual results crowned the telecom giant’s ground-breaking move into free televised English Premier League football.

HOTEL industry start-up Sleeperz will use the site of the former Travelodge in Edinburgh’s Shandwick Place to launch a brand of budget hotel.

ONLINE gambling company Betfair raised its profit forecast and cost savings target yesterday, making its case for independence as it tries to stave off a £910 million takeover by private equity firm CVC Capital Partners.

Gambling website Betfair is thought to be mulling a £140 million payout to shareholders as part of its defence against a hostile takeover.

Merlin Entertainments Group, the private-equity backed owner of Madame Tussauds and Legoland, is understood to have moved closer to choosing London for its planned flotation in a move which could value it at more than £3 billion.