TiVo reported a record profit for the third quarter ended October 31, of $100.6 million, but that was based mainly on the $105 million in damages the company received from satellite operator Dish Network and its set-top supplier EchoStar Corp. relating to patent litigation. Without the Dish/EchoStar damages award, the company would have posted a […]
BskyB is to raise $600m in a bond issue to institutional investors to provide funding for activities including possible acquisitions and the refinancing of debt. It launched a private placement late yesterday of 10-year bond notes at 9.5% interest. “It is expected that the net proceeds of the offering will be used for general corporate […]
Ad-funded, youth-oriented mobile virtual network operator Blyk has raised an impressive E40 million round from its existing investors. CEO Pekka Ala-Pietilä warned that, "like everyone else, [we] are feeling the impact of the world's financial situation" and Blyk has "taken decisive steps to cut costs and streamline our organisation." Since its launch in September 2007, […]
GE has declared its interest in buying media assets in a sign that a slumping economy has not shaken General Electric's confidence in its television and film business, NBC Universal. Jerry Immelt, GE chief executive, told the FT the company had the resources to capitalise on bargains as it wades through the downturn. "There are […]
UK telco BT has announced it will be cutting 10,000 jobs following a gloomy Q2 report. The company said it had already cut 4,000 jobs, leaving a further 6,000 to go between now and March, adding that it was not planning any compulsory redundancies. BT said it was reducing its dependence on consultants and contractors, […]
The continuing costs related to the hacking of its encryption system took Premiere to its fourth consecutive quarterly loss in the third quarter. A negative EBITDA of E27.2 million in Q3 2008 compared to the positive E22m in the same quarter of last year. Increased costs on transmission, hardware and sales pushed operating costs up […]
Intelsat has reported revenue of $598.5 million and a net loss of $179.3 million for the three months ended September 30th, 2008. The company also reported EBITDA of $406.3 million. “Intelsat’s third quarter results showed strength and stability as we improved revenue by 10 percent, grew Adjusted EBITDA by 11 percent, and increased our contract […]
Adult entertainment specialist Private Media Group has announced its results for the three months ending September 30th, 2008. It reported net sales of E4.6 million compared to net sales of E7.5 million for the three months ended September 30, 2007, a decrease of E2.9 million. "Due to the comparatively weaker dollar and the restructuring of […]
Portugal’s cable TV and Internet company Zon has posted a 2 per cent drop in net profit for the January-to-September period as higher financial costs offset a rise in revenue. The country’s leading cable operator said net profit slipped to E50.9 million – slightly below market consensus. Zon said nine-month net revenue rose 8 per […]
Dish Network has seen its third-quarter profits shrink 54% and its subscriber numbers decline for the second quarter in a row. Dish, the second largest satellite operator in the US, generated $92 million profit on $2.9 billion in third-quarter sales. That compares to $199.7 million profit on $2.7 billion revenue in the third quarter of […]