The FT reports that as Intelsat emerges from its Chapter 11 bankruptcy reconstruction the satellite operator will lose its CEO Steve Spengler (who will leave with a pay-out of at least $4 million) but could also find itself open to a takeover. SES is mentioned as a potential buyer. The FT quotes analyst Armand Musey, […]
Bloomberg, in what investment bank Exane/BNPP describes as an “informal survey”, has suggested that Eutelsat and ITV are “most likely takeover” candidates. The bank suggests that ITV has been in the Bloomberg poll fairly frequently over the past ten years. Other companies named as possible takeover targets include KPN, Telecom Italia, Invit, Nokia, ProSiebenSat. 1 […]
Analysts at investment bank Exane/BNPP have upgraded the UK’s commercial television broadcaster ITV to ‘Outperform’ (from ‘Neutral’), saying its positive review was helped by increased optimism on the UK’s advertising cycle. In summary, the bank says that it has reassessed ITV’s business catalysts and the broadcaster’s recent track record, new clients coming aboard and the […]
ITV Studios, the production arm of UK commercial broadcaster ITV, has revised its business expectations towards its 2026 expected trading. It suggests that it will double the already growing number of high-end streaming hours by 2026 from 200 hours to 400 hours. In essence, ITV Studios says it expects trading for 2022 to have recovered […]
A timely note to clients from investment bank BNPP/Exane looks at the potential media-related winners and losers impacted by the latest Covid variant. The bank says that while there are justifiable fears from the new variant, there will inevitably be media businesses that are impacted, some with good news, and others not so likely to […]
November 16th saw Eutelsat’s share price crash 5 per cent and SES suffer a 2 per cent fall on the day. In the US Viasat and Loral both fell 3 per cent with Echostar and Iridium falling 2 per cent. Asian satellite shares also fell. The reductions were seen as being “excessive” according to analysts […]
The planned $7.3 billion (€6.3bn) acquisition by Viasat of Inmarsat confirms Viasat’s position as the satellite industry’s largest player in terms of revenues. But the deal could also herald a further suite of consolidations. In the words of analyst Sami Kassab, from investment bank Exane/BNPP, this transaction will help diversify Viasat’s geographic and vertical exposure, […]
The long-expected consolidation amongst major satellite players is happening. California-based Viasat is set to buy London-based Inmarsat for $7.3 billion (€6.3bn) in a cash and shares deal. Inmarsat was taken private in 2019 at $6 billion. Today, Viasat is paying an extra $1.3 billion as management have valued the Net Present Value of synergies at […]
ProSieben.Sat1 published its Q3 results on November 4th which were in line with expectations on revenues but in the words of analysts at investment bank Exane/BNPP there was “a surprising miss on its EBITDA”. Net income benefitted among others from the financial result and beat consensus expectations by 38 per cent. The highlight, said the […]
Drilling down into Microsoft’s record results (overall net income of $20.5 billion, up 48 per cent) and looking at its gaming division reveals the software company delivered a very solid July to September quarter. Gaming revenues were up 16 per cent with its hardware division sales sustained (+166 per cent year-on-year) driven by strong demand […]