The UK Department for Education has pulled the plug on Teachers TV. Ten Alps, which co-owns the site with ITN, told the London stock exchange that the government is cancelling the £10 million (E11.5m) annual contract from April 2011 as part of the cuts. Ten Alps CEO Alex Connock, said: “The news came out of […]
Veebeam has raised the first of a two-tranche, $6 million second funding round from Amadeus Capital Partners, Intel, Capital and Oak Investment Partners, Bay Partners, Formative Ventures, Khosla Ventures and Vision Capital. Veebeam’s $99/£99 system sends images from a computer, through a USB dongle, wirelessly to a receiver plugged in to the back of a […]
Sky Deutschland has just had another cash injection from News Corp which now controls almost 50 per cent of the pay-TV company, although Sky Deutschland is still seeking additional liquidity. News Corp says it will not absorb more than its current 49.9 per cent shareholding. Investment bankers Morgan Stanley, in a note to clients, say […]
Sezmi has raised $17.3 million more for its US national hybrid broadcast-broadband television distribution network, according to a regulatory filing. The company, which was founded in 2005 and previously had collected more than $75 million from investors, has so far rolled out to 36 metropolitan markets via outlets that include Amazon and BestBuy, following a […]
Germany‘s largest cable operator Kabel Deutschland (KDG) is looking to issue more shares. Bankers Morgan Stanley supports the move. Indeed, in a note to investors the bank says the cable giant has “robust prospects” and advises clients to stay ‘overweight’ given its forecast of a 16 per cent upside to its E31 a share target […]
The BBC Trust has proposed to Government that the licence fee should be frozen at its current level of £145.50 (E173) for the remaining two years of the current settlement, through to March 2013. This would mean taking an estimated £144 million out of planned BBC budgets. Outgoing BBC Trust chairman, Sir Michael Lyons, said: […]
Following a record 40 per cent revenue growth, driven by increased demand for broadcast services on both satellite and online platforms, London-based sister companies Playout247 and Vision IPTV have unveiled a major investment programme in studio and broadcast technology supported by capacity increases. Four existing studio facilities have been upgraded to HD, and […]
Swissom has offered to buy out its remaining fellow shareholders in Fastweb, giving the Swiss telecommunications group full control of its troubled Italian subsidiary. The Swiss group will offer Fastweb shareholders E18 a share – 34 per cent, over this weeks prior average price. The all-cash deal will cost the highly profitable Swiss group […]
Five is to lose seven of its nine executive directors in a management cull as new owner Richard Desmond looks to cut £20m (E24m) from the business. In total up to 80 jobs will go. Among the leaving are director of strategy Charles Constable and managing director Mark White. Dawn Airey, the Five chairman and […]