Virgin Media is celebrating an £81.5 million (€91.4m) VAT refund from HM Revenue & Customs. The refund covers an eight-year period between 2003 and 2011 on an undisclosed part of the Virgin business. It has also agreed to pay a lower-than-expected £23.6 million in VAT as a result of a separate settlement with HMRC, ending […]
The recommendations of the Telecom Regulatory Authority of India (TRAI) to raise FDI (Foreign Direct Investment) ceiling for DTH, IPTV from 49 per cent to 74 per cent have been “accepted” by the I&B Ministry. The recommendations have been accepted to bring parity between DTH and IPTV operators with other service providers said a Ministry […]
Digitalsmiths has announced that the company has closed an oversubscribed $12.5 million expansion financing. The infusion of capital accelerates US domestic and international sales of Digitalsmiths’ video search and discovery products designed to provide an upgrade to the video industry’s rudimentary content search, discovery and recommendation capabilities. Technicolor led the round; all existing investors including […]
Encryption and TV technology company NDS has refinanced $800 million of debt. NDS is owned 51 per cent by Permira and 49 per cent by News Corp. Permira bought into NDS back in 2008 in a complex deal that saw Permira pay News Corp (which at the time owned 72 per cent of NDS) $1.5 […]
Production house Dori Media, which specialises in producing Latino soap operas and telenovellas, is to delist from London’s AIM share market. It held an IPO in March 2005 and raised just over £3 million and a market valuation at the time of £22 million (at £1.18 a share). The shares have since fallen back. The […]
Clearlake Capital has led a recapitalisation of 3D camera rig specialists 3ality Digital. In connection with the deal, Clearlake has acquired the majority of the newly-issued preferred stock of the company and will own a majority of the voting shares of 3ality Digital. 3ality management also participated in the transaction. Terms were not disclosed. “Clearlake […]
Fears have emerged that the peak funding of the National Broadband Network (NBN) in Australia could balloon beyond A$44 billion, as construction companies urged the government to pare back the reach of its ambitious fibre footprint so it can meet its budget. The warnings follow a tumultuous week inside NBN headquarters in which a number […]
Vice is preparing to announce investment partnerships with Tom Freston, MTV’s co-founder; WPP, the giant media conglomerate; and the Raine Group, a boutique investment firm. To help it expand, Vice has also enlisted William Morris Endeavor Entertainment and its chief executive, Ari Emanuel, to represent the company. “We’ve kind of been on the periphery for […]
The BBC World Service is to receive a “significant” sum of money from the US government to help combat the blocking of TV and Internet services in countries including Iran and China. In what the BBC said is the first deal of its kind, an agreement is expected to be signed later this month that […]
RGB Networks, the expert in high-capacity multi-screen video delivery solutions, has been recognised by The Wall Street Journal as one of America’s “50 most promising venture-backed companies” in its second annual Next Big Thing list. RGB did very well in this year’s ranking, beating over 5,000 contenders to place thirteenth overall. The 50 companies on […]