Advanced Television

Funding

Intelsat issues bankruptcy restructuring plan

Intelsat says it has received backing from some of its creditors – holding some $3.8 billion of the company’s debt – to reduce its overall debt by some 53 per cent from around $15 billion to $7 billion. As at September 30th the company owed $14.4 billion to its creditors. Intelsat has filed its Plan […]

February 15, 2021By Chris Forrester

Avanti receives approval for financial restructuring

London-based Avanti Communications has received all the necessary approvals to increase its borrowings. The end result is a capital injection of $30 million and taking its basket of borrowings from $145 million to $190 million (which includes other obligations). Avanti received consent approval from 78.49 pe rcent of note holders. The approvals and further borrowing […]

February 15, 2021By Chris Forrester

TV licence fee increase confirmed

The UK Government has confirmed that from April 1st 2021, the cost of the annual television licence fee will increase from £157.50 (€178.90) to £159.00. The Government, which is responsible for setting the level of the licence fee, announced in 2016 it would rise in line with inflation for five years from April 1st 2017. […]

February 9, 2021By Colin Mann

SES, Boeing invest in Isotropic

UK-based Isotropic Systems designs and manufacturers antennas for high-throughput satellites including low Earth orbiting satellite constellations. It has just raised a further $40 million (€33m) in funding from a series of investors including SES and Boeing. What’s key, however, is that Isotropic’s equipment can handle signals from a variety of satellites. It is also suitable […]

February 9, 2021

Avanti secures extra $30m in financing

February 8th was when London-based speciality satellite operator Avanti Communications needed to refinance its $145 million debt (Super Senior Facility/SSF) or extend the period of borrowing which it has achieved, at least by a week. In a statement on February 8th, Avanti said: “Today the Company announces that it has agreed on the headline terms […]

February 8, 2021By Chris Forrester

BBC reveals financial transformation results

The BBC has set out how it has transformed its finances over the past decade to ensure it continues to deliver exceptional value for all audiences. The Corporation has faced an effective real-terms reduction in income of around 30 per cent since 2010/11 as a result of increased funding obligations, such as the World Service […]

February 3, 2021By Colin Mann

STARZPLAY secures debt financing of $25m from Ruya Partners

STARZPLAY, the MENA SVoD service, received its first independent debt financing in the region of $25 million (€20.7m) from Abu Dhabi based Ruya Partners. The funds, secured on the basis of STARZPLAY’s financial strength and performance, will be used towards further strengthening STARZPLAY’s geographic and customer reach, acquiring and producing original content, and maximising long-term […]

February 3, 2021

Survey: 7.1m Brits missing out on free broadband

Comparison site Compare Fibre reports that 57.4 per cent of lower-income households in the UK (some 7.1 million people) have not taken up, and are unaware of the help on offer to assist with maintaining connectivity under the lockdown. This includes: Free Wi-Fi vouchers to 5 million hotspots are available through the BT website. You […]

February 1, 2021

Report: Pandemic fuels shift to brand-funded TV content

Global media intelligence consultancy, K7 Media, has released a report surrounding the rapidly evolving area of brand-funded programming. Titled Brand Funded Programming: Why it Matters Now, the report shines a light on the way in which the pandemic has swiftly accelerated a change in attitudes, making brand funded content a necessity for many cash-strapped broadcasters. […]

January 20, 2021

OneWeb raises fresh $400m

OneWeb, now out of bankruptcy, has raised $400 million (€330m) in fresh financing. Two existing – and former investors – have pitched in with the cash; $350 million comes from Japanese media giant SoftBank and an extra $50 million from Hughes Networks Systems. SoftBank was a major early investor in OneWeb, although most of that […]

January 15, 2021By Chris Forrester