Advanced Television

Exane/BNPP

Bank: Tough times ahead for US cable

Investment bank Exane/BNPP, in a major examination of US cable (The Twilight of Cable) says that while the first half of 2023 might see some gentle recovery from the 52-week ‘lows’ in December, there will be more pain to come. “We think near term sub growth (from promotional activity) and broadband price increases can flatter […]

January 20, 2023By Chris Forrester

Bank: “Video Games will rebound in 2023”

A comprehensive eport from investment bank Exane/BNPP says it expects the Video Games sector to “rebound in 2023 helped by stronger line up of new games and better availability of new-generation consoles.” The bank reminds clients that 2022 proved to be a “corrective year” for the games sector, where the industry overall suffered a 10 […]

January 18, 2023

MFE wants control of ProSiebenSat.1

Berlusconi family-controlled MediaForEurope (MFE) is looking to take majority control of German commercial broadcaster ProSiebenSat.1. MFE filed its formal notification at Austria’s Federal Competition Authority (Bundeswettbewerbsbehörde) on December 13th. The filing talks about the “acquisition of de facto sole control” of the German media business. Investment bank Exane/BNPP suggests this could be a difficult move […]

December 20, 2022By Chris Forrester

Bank: “Prosus top pick for 2023”

On December 5th, Netherlands-based media conglomerate Prosus will hold a Capital Markets Day (along with its major backer Naspers) and it has prompted investment bank Exane/BNPP to issue a note to clients which – in summary – says that Prosus is set to emerge from the crises [of the past few years] stronger and is […]

November 30, 2022

Bank: Torrid time for China internet sell-offs

China, despite plenty of challenges, has traditionally been a robust performer for internet and related activity. But October 24th saw a “severe sell-off” according to analysts at investment bank Exane/BNPP. In trading on October 25th there was something of a recovery following the earlier dramatic declines. But the hard numbers on the falls did not […]

October 26, 2022By Chris Forrester

Eutelsat+OneWeb: “Disappointing valuation” says bank

Investment bank Exane/BNPP, in a comprehensive report on the proposed merger between satellite operator Eutelsat and Low Earth Orbit constellation OneWeb, says the “increase in interest rates, inflation, the war in Ukraine, [OneWeb] Gen 2 funding requirements all suggest a bit of patience could have improved the financial outcome for minority shareholders… but the new […]

July 29, 2022

Analyst: “Eutelsat+OneWeb makes strategic sense”

A flash note to investors from investment bank Exane/BNPP and analyst Sami Kassab says that the much rumoured Eutelsat/OneWeb ‘merger’ would make strong strategic sense as it would constitute the first LEO+GEO broadband satellite network in the world. “We believe that multi-orbit systems offer a sustainable competitive advantage as they offer the most attractive bandwidth […]

July 25, 2022

Bank: “China gaming regulations shifting to new phase”

China’s National Press and Publication Administration, which controls how video games are permitted, licensed and supervised in China, recently approved 67 new games for domestic distribution. Tencent saw one of its associated local developers, iDreamsky, gain approval for its Eternal Return game. But there were no imported games in the list and this is the […]

July 19, 2022By Chris Forrester

Naspers decision: Tencent down, Prosus up

Tencent’s share price in Hong Kong fell back 1.5 per cent on June 28th, but Prosus NV stock jumped 10 per cent on the Amsterdam market while shares in Naspers (on the Jo-berg market) rose 13 per cent on the decision by Naspers to buy back its own stock for cancellation. Prosus/Naspers CEO Bob van […]

June 29, 2022

Bank: “Difficult to make Starlink work financially”

Technically, Elon Musk’s Starlink is working well. Musk’s generous supply of free Starlink terminals to fighters and military logistical technicians in Ukraine is both praiseworthy and a clear example as to how emergency supply of equipment can be managed. But making Starlink work for a global audience is a different – and major – problem, […]

June 15, 2022