Swedish media group MTG (Modern Times Group) has posted record Q2 sales of SEK 5,010 million (€486.3m) with 9 per cent organic growth. In a statement, Jørgen Madsen Lindemann President & CEO, commented: Profitable growth “This was the eighth consecutive quarter of more than 5 per cent organic sales growth and another quarter of profitable […]
Liberty Global has announced that, effective September 1st, Severina Pascu will become Chief Executive Officer (CEO) of UPC Switzerland. She will succeed Eric Tveter, who will assume the role of Chairman of UPC Switzerland and, with the pending sale of UPC Austria, will continue to oversee Liberty Global’s Eastern European operations as CEO. Pascu is […]
Following the decision by Kinnevik AB to distribute all its shares in Modern Times Group (MTG) to its shareholders, Joakim Andersson has resigned from the MTG Board of Directors. Andersson is Chief Financial Officer of Kinnevik, which is MTG’s largest shareholder. He was appointed to the MTG Board of Directors in 2015. He was also […]
Reed Hastings, CEO at Netflix, suffered a 14 per cent crash in his company’s share price July 16th in after-hours trading following disappointing quarterly numbers. Netflix added a net 670,000 subscribers in the US, and 4.47 million internationally. For any other media business, there would be celebrations, but Wall Street expected more. The consensus was […]
The fact that a company with under $15 billion of forecast annual revenue and less than 10 per cent net margin can lose $25 billion of market value in a day gives some idea of how overhyped the stock was in the first place – it came close to $200 billion of value before the […]
Mediaset has teamed up with Italian infrastructure fund F2i to launch a joint takeover bid for 60 per cent of Italy’s leading independent tower company EI Towers. The Italian commercial broadcaster already owns 40 per cent of EI Towers, which has an estimated market value of €1.4 billion. The 60 per cent stake could be […]
The French Government has unveiled its 5G roadmap and launched four priority courses of action. “5G is strategically vital to France’s industry, the competitiveness of our economy, innovation and revitalised public services,” says Electronic communications and postal regulatory authority, Arcep. “Starting in 2020, 5G is promising to deliver a jump in technological performances and pave […]
Federal Communications Commission Chairman Ajit Pai has issued a statement announcing circulation of a draft hearing designation order regarding the Sinclair/Tribune transaction paving the way for a judicial hearing. “Based on a thorough review of the record, I have serious concerns about the Sinclair/Tribune transaction,” stated Pai. “The evidence we’ve received suggests that certain station […]
The owner and operator of a major pirate streaming service, and mass supplier of illicit streaming devices that provided illegal access to Premier League football, has been jailed for five years and three months. John Haggerty, the owner of Evolution Trading, appeared in Newcastle Crown Court in the north-east of England for sentencing after pleading […]
In-Flight Entertainment (IFE) business Gogo says it is considering splitting itself into two entities, one focusing on Business Aviation and the other on Commercial Aviation. No firm decision had yet been made. It announced results which saw profit in the Business sub-division had grown 24 per cent in Q1, but its Commercial division saw profits […]