Technicolor has reached an agreement with lenders to restructure itself and provide the company with some €420 million in a new financial structure. The plan is due to be endorsed on July 20th at an extraordinary general meeting. The new lenders include Bain Capital, Alcentra and BpiFrance Participations and the scheme calls for debt equalisation […]
Quortex, a provider of a video streaming solution over the Internet, has raised €2.5 million in seed capital, in a funding round led by Elaia and Go Capital, with the participation of Unexo and Business Angels. The Quortex software solution is already used by customers such as M6 and Red Bee Media. Quortex says this […]
California-based Viasat has some inevitable anxieties about the current Covid-19 pandemic and the impact it is having on its aircraft-based In-Flight Communications and Entertainment revenues. It is borrowing $400 million (via Senior Unsecured Notes due 2028) in a private placing. Viasat says it intends to use the net proceeds from the offering to repay all […]
The Creative Industries Federation has warned of a ‘cultural catastrophe’ as research from Oxford Economics reveals that the UK’s creative industries are on the brink of devastation. The UK’s creative sector was previously growing at five times the rate of the wider economy, employing over 2 million people and contributing £111.7 billion (€125bn) to the […]
Financially challenged Technicolor is looking to strike a conciliation agreement with its existing bankers and lenders (in France described as a SFA: Sauvegarde Financiere Acceleree) and to thus restructure its obligations. Technicolor needs a two-thirds majority agreement by its lenders in order to proceed with the SFA. Alongside the SFA the technology company is looking […]
CityFibre, the UK’s third national digital infrastructure platform, is initiating a three-year recruitment and training programme to provide up to 10,000 people with jobs upgrading the UK’s digital infrastructure to full fibre. The Government has made the nationwide deployment of full fibre by 2025 a key target. According to CiyFibre, this critical initiative will underpin […]
Intelsat is in Chapter 11 bankruptcy and is restructuring itself. On June 9th, it gained bankruptcy court approval to access a $1 billion loan under ‘debtor in possession’ rules and post-petition financing. Judge Keith Phillips granted Intelsat immediate access to $500 million (out of the $1 billion) in order to keep its day-to-day operations going […]
Channel 4 has announced the launch of 4Sales’ Greenhouse Fund. The new initiative will offer small and medium sized businesses that have never advertised on TV before match-funded commercial airtime across Channel 4’s portfolio. The unique £3 million (€3.3m) airtime relief fund is a temporary solution aimed at SMEs seeking growth as the nation begins […]
Julian Knight, Chair of the DCMS Committee, has criticised a response from UK Culture Secretary Oliver Dowden to questions about government support for sectors hard hit by the Covid-19 pandemic. “It’s clear that the government needs to be doing much more to support the people in our creative industries who contribute so much to our […]
Last October Intelsat made a $50 million “synergistic” loan to BlackSky, owned by Spaceflight Industries. Now it wants the Court to amend the loan obligations and permit certain sales plans to proceed despite the bankruptcy. Spaceflight describes itself as a ‘next generation’ space company with launch facilities, and its BlackSky division specialises in images from […]