Time Warner Inc and China Media Capital, China’s leading investment fund focused on media and entertainment, have formed a strategic investment partnership. The news was revealed in the western Chinese city of Chengdu, where business leaders convened for the 2013 Fortune Global Forum. The partnership aims to capitalise on China’s rapidly expanding media sector as digital devices proliferate and China’s [...]
ABS-CBN of the Philippines has raised 2.5 billion Philippines Pesos (about $60 million) for digital TV expansion. The cash is part of a larger plan, totalling P4 billion (about $95 million), with P1.5 billion of the cash coming from a sister company of current owners the Lopez Group. However, P2.5 billion will come from a new investor in the form [...]
Fastly, the real-time content delivery network, announced that it has raised a $10 million Series B round from August Capital. This follows a previous $1 million Series A from Amplify Partners, Battery Ventures and O’Reilly AlphaTech Ventures. “The Fastly approach fundamentally changes the way we think about user experiences on mobile and web. The traditional CDN space has been unable [...]
Roku has raised $60 million in new funding from Hearst Corporation, News Corp and Sky as well as institutional investor Fidelity. The company said that the new investment will help Roku expand its streaming services. Roku said it has now raised $140 million to date. Roku competes with Apple TV and is working with US cable operators such as Time [...]
TuneIn has raised a new $25 million round of funding. TuneIn CEO John Donham says that he intends to spend the new funding on a monetisation strategy that could help radio broadcasters finally make money with their programming online, and in turn transform a $30 billion industry. TuneIn is offering access to live and on-demand programming from some 70,000 radio [...]
Moody’s Investors Service doesn’t think much of Intelsat’s latest batch of borrowings, assigning an issue of $2 billion in unsecured debt at a B3 rating, and an even lower Caa1 rating to the satellite operator’s $635 million notes. However, Moody’s also reminds investors that Intelsat’s other debt are at much the same rating. “While the transaction increases the proportion of [...]
George Soros has invested £50 million (€59m) into Hyperoptic, the British fibre broadband provider, to help expand the business across the UK. Hyperoptic builds high-speed broadband connections of up to 1gbps to residential developments. The group has secured the amount from investors led by Quantum Strategic Partners, a private investment vehicle managed by Soros Fund Management. The investment is the [...]
Charlie Ergen’s Dish Network is raising $2.5 billion in fresh debt. The cash will be placed into a special escrow account ready to be used for Dish’s proposed purchase of US cellular giant Sprint Nextel. Ergen said that week that he would only make a firm financing commitment when it was clear that it was teh last obstacle in keeping [...]
Cable giant DEN Networks is to raise $160 million in a share sale. DEN has some 11 million homes in its cable system and is heavily involved in India’s digitisation process. The cash is being raised via Goldman Sachs’ Singapore office where Broad Street Investments and MBD Bridge Street 2013 Investments will take a total of $110 million. In addition, [...]
A special board meeting of On Digital Media (ODM) in Johannesburg on April 30th voted in favour of the scheme put forward by StarTimes to rescue ODM’s TopTV pay-TV operator. Reportedly 99 per cent of shareholders approved the move. The decision also means that other rival bids, in one case by a consortium backed by Multichoice, have been rejected. StarTimes, [...]
