According to Securities & Exchange Commission filing last week, Elon Musk’s SpaceX has raised an extra $346.2 million (net) in its latest fund-raising efforts. This suggests that Musk’s company has raised some $1.7 billion since the beginning of 2019. The company has a valuation of some $36 billion. It previously raised $221 million on March […]
Netflix and the American Cinematheque are joining forces to ensure the long-term future of the Egyptian Theatre, site of the first Hollywood movie premiere and the long-time home of the American Cinematheque. This collaboration will enable the non-profit American Cinematheque to expand the scope and diversity of its movie and event programming, its filmmaker-centric festivals […]
The Covid-19 crisis has highlighted the key role that fibre networks will play in European economic recovery, according to participants at a virtual event – Delivering the Full-Fibre Gigabit Society: Challenges and Opportunities – organised by Forum Europe. With about 90 per cent of all Internet traffic in Europe carried over fixed broadband (FBB), full […]
India’s Jio Platforms has raised an additional $1.5 billion. The funding comes from private equity firm KKR which is the fifth company to invest in the Indian telco and technology business in as many weeks. The new investment gives KKR’s Asian division a 2.32 per cent stake in the business, and takes the overall cash […]
Media and entertainment technologist Technicolor has announced that the prolonged uncertainty in global market conditions, as well as the impact of the Covid 19 crisis on its business in the short term, have limited the ability of the Company to launch the previously-announced €300 million Rights Issue. It has therefore engaged in discussions with some […]
OTT sports platform DAZN is trying to secure its financial future, with owner Len Blavatnik exploring options to raise funds for a business that has significantly suffered by the postponement of major sports around the globe. The London company has spent billions for the rights to live sporting events, including Champions League football, FIBA basketball […]
The BBC’s Annual Plan reveals that people across the UK have turned to the broadcaster in record numbers as a source of news, entertainment and companionship during the Covid-19 pandemic. New figures show that as many as 94 per cent of the UK adult population – and 86 per cent of younger people – have […]
Netflix, in alliance with the Argentine Academy of Cinematography Arts and Sciences, has announced the creation of the Covid-19 Film and Audiovisual Industry Relief Fund, to provide financial aid to support more than 1,000 workers in the sector. A donation of 40 million pesos (€1.5m) will be administered by the Academy to be distributed among […]
As long expected, Intelsat has filed for Chapter 11 bankruptcy and says it will restructure itself under ‘Debtor in Possession’ (DiP) rules. Intelsat says it is fully backing the Federal Communications Commission’s (FCC) plan for the auction of some of its C-band frequencies over the US for 5G usage. It says it has raised $1 […]
The effective enactment of the AVMSD Euro directive has been confirmed for January 1st 2021 by French President Emmanuel Macron as he set out his plan to support the cultural sector during the Covid-19 crisis. He is aiming to have the directive transposed into French law before the end of 2020 so that VoD platforms […]