China Telecom on Tuesday reported a 96 per cent plunge in net profit for 2008 after it booked a Rmb24bn ($3.5bn) impairment charge related to its low-end wireless network, known as Xiaolingtong or "Little Smart". But the Chinese telecoms group said it remained buoyant on this year's performance, adding that it hoped strong demand for […]

Cisco has announced its intent to acquire privately held Pure Digital Technologies. San Francisco-based Pure Digital, creator of the best-selling Flip Video brand is a specialist in developing consumer-friendly video solutions with mass-market appeal. “The acquisition of Pure Digital is key to Cisco's strategy to expand our momentum in the media-enabled home and to capture […]

The UK government's suggestion that the BBC should be part of the drive to make broadband universal in the UK would distort markets and distract the broadcaster from its main purpose in making programmes, BSkyB has suggested in its submission to the Digital Britain review headed by Lord Carter, the communications minister, BSkyB said the […]

Fixed satellite services provider Intelsat has reported revenue of $608.8 million and a net loss of $524.2 million for the three months ended December 31st, 2008. The net loss includes non-cash charges of $326.8 million for orbital location impairments and $186.6 million for a loss on undesignated interest rate swaps. The company also reported EBITDA […]

Research from Coda Research Consultancy estimates that UK Internet users watch at least £1.3 billion worth of video content a year through illegal file sharing, and that video rights owners are losing at least £100m a year in lost revenue. Year-on-year increases in these illegal behaviours are irreversible, but can be slowed through the launch […]

BSkyB has won permission to appeal against a Competition Appeal Tribunal ruling forcing it to reduce its 17.9% stake in ITV to below 10%. Last November, the Competition Appeal Tribunal rejected an appeal against the original ruling in October 2007 that the deal had restricted competition but Sky went to the Court of Appeal which […]

Central European Media Enterprises Ltd. (CME) has confirmed that Time Warner will invest $241.5 million in CME for a 31% stake. Time Warner is agreeing to allow CME founder and Non-Executive Chairman Ronald S. Lauder to vote Time Warner's shares of CME for at least four years, subject to certain exceptions. Also, Lauder has pledged […]

Virgin Media TV is to close its teenage pay-TV channel Trouble within months as Virgin gets ready to off-load its content business. Reports say it plans to close Trouble and launch a new version of its popular Living channel in its place. Virgin Media has appointed UBS to sell its content division for sale and […]

Gerhard Zeiler CEO of RTL Group said it would allow the government to retain a majority stake in any merger with Channel 4, as he wrote down the value of the UK channel by E337m slashing its value by half. Zeiler stressed he is committed to the UK and said a merger between Five and […]

From David Del Valle in Madrid Spain’s largest cable company ONO has reduced by 87 per cent its losses in 2008 to E26 million and now hopes to end the current year breaking even. ONO’s EBITDA was E703 million, up 10.6 per cent. Total revenues were 0.8 per cent down to E1.603 billion, with residential […]