Category archives for: Business

Aereo bankruptcy auction raises less than $2m

Internet entertainment streaming service Aereo, which late November 2015 filed a voluntary petition for Chapter 11 reorganisation in the US Bankruptcy Court for the Southern District of New York, has garnered less than $2m from an auction of company’s assets, despite suggesting at the time there was “very substantial interest in the assets”. Aereo suspended its operations June 28th 2015 […]

ProSiebenSat.1 hails record year

German TV group ProSiebenSat.1 has reported 2014 as a record year, as revenues increased by 10.4 per cent to €2.876 billion. Recurring EBITDA increased by 7.2 per cent to €847.3 million and underlying net income rose by 10.3 per cent to €418.9 million. Thomas Ebeling, the CEO of the ProSiebenSat.1 Group, commented: “2014 was a very successful year for ProSiebenSat.1. […]

Google buys .app web domain

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Google has purchased the website domain .app in an auction held by The Internet Corporation for Assigned Names and Numbers (Icann) – the organisation which oversees the running of the net. The firm’s winning bid for $25,001,000 is believed to be the highest so far. Icann is currently rolling out new customised web names and auctioning them off. Other web […]

Naguib Sawiris eyes Euronews control

Euronews is set to sell a €35 million majority stake to Naguib Sawiris. Established in 1993 by the European Broadcasting Union (EBU), Euronews is currently owned by 21 public television channels and 3 local authorities. Available in 13 languages it provides rolling coverage of world news produced by 600 journalists from over 30 countries. “Throughout the past decade, Euronews has […]

Nilesat profit up 58%

Cairo-based Nilesat reported a significant jump in net profit, from $46.6 million in 2013 to $73.8 million in 2014, an improvement of 58.6 per cent. The data was released to the Cairo Stock Exchange on February 26th. Overall revenues also grew from $180.9 million in 2013, to $192 million in 2014. Nilesat’s stock price has risen steadily over the past […]

MPs: ‘No long-term future in BBC licence fee’

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An influential group of UK MPs has said it sees no long-term future in the BBC licence fee and set out advantages of a broadcasting levy. It considers the BBC still a valued and important feature of national life but in need of stronger governance and more challenging, independent oversight if it is to be held accountable. In a major […]

​Mediaset €1.2bn bid for RAI’s tower network operator

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Mediaset’s broadcasting network operator Ei Towers has launched a bid for its counterpart RaiWay, owned by public broadcaster RAI. The cash and stock offer values RaiWay at €4.50 per share, or €1.22 billion. The cash component corresponds to approximately 69 per cent of the aggregate valuation of each RaiWay ordinary share, while the share component corresponds to approximately 31 per […]

Deutsche Telekom adds 65,000 IPTV subs in Q4

Deutsche-Telekom

Deutsche Telekom has reported that Q4 2014 EBITDA rose 9.5 per cent to €4.44 billion, driven by its US business. It expects adjusted EBITDA to rise almost 4 per cent to around €18.3 billion at constant currencies this year compared with 2014. Last year’s growth was 0.8 per cent. The telco saw 65,000 new customers for its IPTV platform Entertain […]

Euskaltel considers IPO

Flag of Spain

Spanish local cable operator Euskaltel is considering a float on the Stock Market to raise funds for growth. The company, with operations in the Basque Country, has hired Rothschild Bank to assess the process with a final decision to be made in June. Euskaltel, partly owned by private equity funds Trilantic and Invesindustrial, is seeking a listing as International investors […]

BBC’s Cohen: “BBC3 bid does not stack up”

BBC director of television Danny Cohen has openly rejected Avalon Entertainment and Hat Trick Productions’ BBC3 potential rescue bid, arguing that the £100 million (€136m) takeover plan “does not stack up”. Cohen has written to Jon Thoday and Jimmy Mulville to set out the corporation’s interpretation of the bid, which was formally submitted to the BBC Trust last week Cohen […]

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