Media group Emap has revealed that its results for the current financial year are likely to be below market expectations.
The company, which owns radio stations Kiss and Magic as well as magazines FHM, Heat and Closer, also says that 2007/08 is likely to be affected by the same "challenging conditions".
Issuing a trading update today, Emap says that it hopes to save more than £20 million every year through company-wide structural reviews; although this will include a one-off cost of £30 million.
The group's chief executive Tom Moloney commented that Emap was, along with other commercial radio broadcasters, grappling with "weaker than anticipated" market conditions.
But he insisted that its management actions were a "positive response to prevailing market conditions".
"Brands, content and deep relationships with the communities we serve are the enduring strengths of Emap and have allowed us to maintain market leading positions," he said.
"These strengths underpin our strategy and, when combined with improved technology skills, will ensure we deliver sustainable growth."
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