British companies developing satellite communications technology are to receive £30 million (€34.5bn) in government funding, Space Minister Liz Lloyd announced this week, as the UK looks to secure a larger share of a global market. The investment, the second round of funding from the UK Space Agency’s Connectivity in Low Earth Orbit (C-LEO) programme, will […]
4iG, the Hungary-based IT systems integrator, has entered into an agreement with sovereign investor Mubadala. Under the terms of the agreement, Mubadala, which is wholly owned by the Government of Abu Dhabi, will provide a $50 million (€42.3m) convertible loan to 4iG. The conversion share price is based on the 90-day volume-weighted average trading price […]
Luxembourg-based satellite-to-smartphone specialist OQ Technology has received a €25 million loan from the European Investment Bank (EIB). The sum is in the form of EIB venture debt. The cash will help further development of OQ’s network of low-earth-orbit satellites, offering 5G coverage and connectivity for direct-to-device Internet of Things and smartphones. The financing, supported by […]
Paris-based satellite operator Eutelsat has announced the launch of a new debt offering with a total nominal amount of €1.5 billion in new senior bonds denominated in euros. The amount raised will be mainly used to repay existing expensive debt. Eutelsat is tapping the market at much more favourable terms now that its credit and […]
UK and Spain-based would-be satellite operator Open Cosmos won the rights to satellite frequencies from Liechtenstein in January. Now it seeks around $200 million (€169.6m) in fresh funding in order to build the satellite fleet and meet strict International Telecommunications Union launch obligations. Open Cosmos launched two of its small Ka-band low Earth orbiting satellites […]
Netflix has announced a £1 million (€1.1m) donation to the National Film and Television School (NFTS) to fund the launch of a new creativity hub at its Beaconsfield campus. The donation forms part of Netflix’s Generation N commitment to UK skills and talent, which includes all of Netflix’s work with leading film schools, charities and […]
AST SpaceMobile, which is creating a satellite constellation to connect with ordinary smartphones, is borrowing $1 billion (€0.84bn) in new Convertible Senior Notes. AST, in a regulatory filing, said it “intends to use the net proceeds from each Registered Direct Offering, together with cash on hand, to enter into one or more separate, privately negotiated […]
Eutelsat has signed almost €1 billion in Export Credit Agency financing for the procurement of LEO satellites for its OneWeb constellation. The news comes just ahead of its latest quarterly (and half-yearly) results announcement due on February 13th. The financing will be provided by a pool of commercial banks, which will benefit from a French […]
South Africa’s public broadcaster SABC says it has no funds to adequately cover an upcoming local government election. The state’s Treasury has turned down a request from SABC for 120 million Rand (€6.2m) for dedicated funding. SABC is appealing to South African parliament’s Communications Committee to intervene. “Without funding, the SABC does not have the […]
The annual cost of a TV licence will rise to £180 (€207) from April 1st as required by the 2022 Licence Fee Settlement, in line with inflation. The increase follows the methodology of calculating the licence fee in line with the consumer price index (CPI) until the end of the BBC Charter Period. The licene […]