Elon Musk, flushed with the stock market success of his Tesla vehicle business, is seeking to raise more cash. This time the cash would go to SpaceX. This fund-raising would be the N-series and Musk, according to Bloomberg, wants at least $500 million and possibly $1 billion which would give his rocket-launching business a valuation […]
UK senior civil servants have formally warned the government that its commitment to put $500 million into a joint venture with Bharti Global to buy bankrupt satellite operator OneWeb has a high risk of losing all the investment. OneWeb is currently totally unprofitable and it is likely to need considerable further investments for satellite building […]
Media and entertainment technologist Technicolor has confirmed that, on the basis of information received, all resolutions required to implement the financial restructuring plan have been approved, with a very large majority, for the shareholders’ general meeting to be held today, July 20th. As planned, the first part of the new financing was concluded on July […]
SpotX, the global video advertising platform, has announced a strategic investment in SpringServe, the ad serving platform for OTT and connected TV (CTV). Under the terms of the agreement, both companies will work together to provide joint customers with advanced video advertising capabilities, while seamlessly connecting platform customers to the advertiser ecosystem. SpringServe offers ad […]
Alok Sharma, the UK’s Secretary of State for Business, Energy and Industrial Strategy (BEIS), and the man about to be responsible for running the UK’s arm of OneWeb, told a House of Commons all-party BEIS scrutiny committee that utilising OneWeb as a replacement for Europe’s Galileo GPS system was not key to the acquisition. However, […]
The Independent Networks Cooperative Association (INCA), has welcomed the Government’s plans to increase investment in workplace training and apprenticeships, as part of its plan to avoid a rise in youth unemployment and to address the growing skills shortage in the sector. However, the organisation warned that this may not be enough for the telecoms sector […]
The British government is spending an initial $500 million (€444.9m),to take a reported 45 per cent stake in the consortium which includes Indian giant telco Bharti Global (paying a similar sum for a 45 per cent holding) to acquire bankrupt satellite constellation OneWeb Global Ltd. The UK has confirmed it will receive a “significant equity […]
Seemingly the UK and India were the solitary joint bidder for OneWeb’s assets. The UK government, in a statement on July 3rd, said it would provide $500 million (€444.9m), as would Indian telco Bharti Global, in the bid for OneWeb’s assets. Business Secretary Alok Sharma said it would help deliver the “first UK sovereign space […]
Music streaming service Deezer and Spanish-language television programmer TV Azteca say they are shaking up audio streaming in Mexico with an alliance to bring Mexicans all the music and podcasts they love. The exclusive partnership will accelerate Deezer’s growth in Mexico as TV Azteca and companies of Grupo Salinas promote Deezer across their businesses and […]
The UK government is widely reported to have joined a consortium that is bidding for bankrupt OneWeb’s satellite system. The UK reportedly put £500 million (or possibly $500 million) into the consortium for a bid on June 26th. The UK’s interest in OneWeb is for a potential alternate space system to the EU’s Galileo GPS […]