SeaChange International says it took action in the fourth quarter of fiscal year 2012 resulting in more than $5 million of annualised cost reductions. These cost reductions come principally from headcount reductions related to streamlining operations. SeaChange CEO Raghu Rau commented, “As we realign our resources to focus on delivering on customer commitments, we have […]
Shareholders at Portuguese pay-TV provider ZON Multimedia have approved the lifting of voting rights beyond a current 10 per cent limit. The approval of the measure opens the way for shareholders to raise their stakes in the company, with mobile cellco Sonaecom touted as a potential suitor. Banks Caixa Geral de Depositos and Banco Espirito […]
Government investment in technology and innovation will enable Britain’s world leading digital businesses to benefit from future advances in technology and help them bring new products to the marketplace, UK Business Secretary Vince Cable has announced. The new Connected Digital Economy Catapult centre will be a hub for the best innovations in the digital sector, […]
Financial problems are piling up on the state-owned group RTVE, operator of TV channel La Primera. Following the recent €200 million cut in state subsides approved by the Government to tackle its deficit, the Telecommunications Market Commission (CMT) has decided to temporarily suspend the additional payment of around €50m that telco operators had been ordered […]
Endemol has reached an agreement with a “significant majority” of its lenders, bringing to an end more than a year of talks to restructure its €2.8 billion debt. The TV production company said that it had reached an agreement in principle with more than two-thirds of its lenders to push through a restructuring of its […]
Reports Saturday suggest that Spanish infrastructure company Abertis, having sold down 50 per cent of its Eutelsat holdings, wants to increase its position in Spain’s Hispasat (where Eutelsat also has a large 27.7 per cent stake). Abertis owns 33.39 per cent of Hispasat, and Spanish newspaper Expansión talks of Abertis wanting to start talks with […]
A government report into the future of the UK film industry has called on ITV and Sky to invest more money in British films. The Film Policy Review Panel, led by Lord Chris Smith, the former Culture Secretary, also recommended a new programme to bring film education to every school and a renewed commitment to […]
Eutelsat’s biggest shareholder, Spanish infrastructure company Abertis, is selling down half of its stake in the satellite operator. Abertis Telecom on January 12th said it would be selling 16 per cent of Eutelsat in a transaction worth about €1 billion. Abertis, as a condition of the transaction, must maintain its remaining stake in Eutelsat for […]
Unruly Media, which makes video campaigns designed for social sharing, has announced a $25 (£16.04) million first VC funding round to pay for international expansion. The money comes from Amadeus Capital Partners, Van den Ende & Deitmers and the UK’s Business Growth Fund, a fund formed by five banks. London-based Unruly, with 100 staff claims […]
A sports animation company with exclusive rights to the image of José Mourinho, the manager of football club Real Madrid, will float on Aim early next year. Sports Stars Media is looking to raise £1.75 million (€2.06m) on the exchange to fund its first children’s cartoon called Mourinho & the Special Ones where the ex-Chelsea […]