Better broadband networks in 10 cities across the UK are being promised by the government. UK Chancellor George Osborne announced £5 billion (€5.8bn) of spending on infrastructure including £100m for broadband networks. Coverage in London, Belfast, Edinburgh and Cardiff and will be boosted. A further six cities will be identified later. “It means creating new […]
Netflix has launched a $400 million capital raising after a disastrous quarter in which its shares have fallen more than 70 per cent. Netflix has sold $200 million of convertible senior notes to Technology Crossover Ventures, a long-time shareholder, and has launched a $200 million share offering for the balance When the bonds are converted, […]
Rupert Murdoch has sold almost all his News Corp ‘A Class’ shares, reducing his common shareholdings from around 4 million non-voting shares to just 381,000. Selling 3.6 million shares generated a total of about $62 million. Murdoch sold the stock for “financial planning reasons” according to press reports. Back in February he had bought 2.8 […]
Liberty Media is considering increasing its ownership share of SiriusXM Satellite Radio, according to the New York Post. In March of 2009, Liberty Media bought a 40 per cent share of the sat radio company as it was facing potential bankruptcy. The Post states that talks are currently ongoing between both sides. Liberty is currently […]
UK-based set-top technology company Pace is to take a $12 million “exceptional charge” to fund the reorganisation of Pace Europe. Fuller details of the restructuring have yet to be finalised. Pace is expected the move to then start showing savings of about $7 million each year, with about 50 per cent of that saving kicking […]
Virgin Media has spent $300 million on buying in and cancelling its own NYSE-issued stock. On November 11th the $300 million was issued to Goldman Sachs as part of Virgin’s capital return scheme. This purchase is part of a Board-approved plan to spend a total of £875 million (about $1.4bn) on buying back its own […]
Telefonica has signed a strategic partnership with Quantenna Communications, a specialist in ultra-reliable Wi-Fi networking for whole home entertainment. The partnership sees Telefonica making a strategic equity investment in Quantenna which gives it access to the latest Quantenna technology for the deployment of high performance video services to the home. Quantenna has the networking expertise […]
Spanish telcos, pay-TV operators and TV broadcasters will have to pay more to cover RTVE’s losses. The Telecommunications Market Commission (CMT) has ruled that the funds already provided do not meet the approved legal taxes on revenues of 0.9 per cent, 1.5 per cent and 3 per cent, respectively imposed on those players to finance […]
UK VoD service SeeSaw appears to have closed for good, following an initial planned closure in June. The company’s website simply says: “Thanks for your support but SeeSaw is no longer available.” Broadcast transmission infrastructure specialist Arqiva, which acquired the aborted Project Kangaroo from it founding partners BBC, ITV, Channel 4 and Channel 5, put […]
The European Commission has proposed to spend almost €9.2 billion from 2014 to 2020 on pan-European projects to give EU citizens and businesses access to high-speed broadband networks and the services that run on them. The funding, part of the proposed Connecting Europe Facility (CEF), would take the form of both equity and debt instruments […]