Negotiations which might have led to Time Warner Cable taking a 25 per cent stake in entertainment video streaming site Hulu have been called off, reports Reuters. It is understood the parties were unable to agree a price for the stake. Hulu’s owners – Walt Disney Co, 21st Century Fox and NBC owner Comcast Corp […]
Spanish telcos have lost their fight against the government-imposed 0.9 per cent annual tax on their revenues to finance public broadcaster RTVE following the EC’s decision to withdraw its appeal before the Luxembourg Court, shortly after the latter ruled that the similar tax legislation in France is compatible with European regulations. The European Court is […]
EdgeCast Networks has secured $54 million in new financing. Led by Performance Equity Management (PEM), with follow-on participation from the company’s existing investors Menlo Ventures and Steamboat Ventures, this Series D growth investment will help EdgeCast develop and launch new web acceleration, routing and security services, further strengthen its rich intellectual property portfolio, expand its […]
Just as it seemed the race to purchase online entertainment service Hulu was entering the final straight, its three owners – Fox, Disney and NBCUniversal – have called off their planned sale and announced that they will invest $750 million in the service. The move represents the second time Hulu has been taken ‘off the […]
Chinese VoD platform YOU On Demand has received an initial $4 million investment from the Chinese mobile video service provider C Media, with the right to make an additional investment of between $12 million and $21 million. C Media’s investment is meant to assist YOU On Demand with its push into the mobile video space. […]
Technicolor has successfully completed its refinancing transaction, allowing the company to borrow new funds at a lower interest rate, effectively extend its debt maturity profile to 2020 and benefit from significantly greater covenant flexibility. The amendments and consents sought pursuant to its consent solicitations have become effective. Tech Finance has accepted all notes tendered and […]
Media engagement company Shazam has announced that America Móvil, the largest telco in the Americas, controlled by Carlos Slim, the world’s richest man, has invested $40 million in the company, with the pair formalising a strategic business collaboration for the Americas. The investment will help accelerate Shazam’s ongoing growth in music, continued expansion into television […]
Base79, the largest YouTube network in the EMEA region, has announced a strategic equity investment from Evolution Media Capital’s (EMC) principal investing arm, Evolution Media Growth Partners (EMGP), a joint venture with global private investment firm TPG. EMC is the affiliate bank of Creative Artists Agency (CAA), the world’s leading entertainment and sport agency. The […]
Stockholm-based Cloud-based TV operator Magine TV has secured $19 million in further financing to drive forward its OTT services. The cash has come from Swedish “and international investors”. The agreement will mean that the international rollout of the platform will accelerate considerably. The first international launches will take place in the key TV markets of […]
European entertainment network RTL Group has formed a strategic partnership with Vancouver-based online video company BroadbandTV. RTL Group’s initial investment of €27 million for a 51 per cent stake is part of a planned series of investments in the company. The business partnership between the two companies creates a new platform for RTL Group’s digital […]