The UK government is rethinking its commitment to an independent satellite navigation system. The review could mean that UK will not use OneWeb for its independent satellite navigation system. The UK’s access to the European Space Agency’s Galileo system ends on December 31st with the UK’s exit from the European Union. The British government has […]
OneWeb, with its Chapter 11 bankruptcy ending the next three months, has succeeded in obtaining an additional $235 million (€201.8m) in ‘Debtor in Possession’ financing. OneWeb’s bankruptcy court approved the request last week in order to maintain output of its satellites under construction in Florida, plus day-to-day expenses as well as ongoing development work on […]
In-Flight broadband business Gogo is proposing to shareholders that it should adopt a ‘poison pill’ defence as a protection against a hostile take-over bid. Gogo is willingly selling its Commercial Aviation division to Intelsat for $400 million, but Gogo will retain its lucrative Business Aviation division. The reason for the strategy is that Gogo has […]
Speculation is mounting about a possible acquisition of MásMóvil by Vodafone Spain. According to El Economista, preliminary talks are taking place between both parties about an operation estimated at €6 billion that will turn Vodafone into the second largest telco in the country to compete with Movistar. MásMóvil has so far denied those conversations. Negotiations […]
The E.W. Scripps Company is buying US national broadcast network ION Media for $2.65 billion (€2.27bn), combining the business with Scripps’ Katz networks and Newsy to create a full-scale national television networks business. Scripps says that ION reaches more than 100 million homes through over-the-air and pay TV platforms and has consistently achieved annual revenue […]
AMC Networks President of SVoD Miguel Penella is expanding his role, adding AMC+ to the portfolio of streaming services he oversees, which includes Acorn TV, Shudder, Sundance Now and UMC. Shudder recently became the second of AMC Networks’ targeted SVoD services to surpass the one million subscriber milestone, following Acorn TV which reached that mark […]
OneWeb’s bankruptcy court heard this week that the company’s unsecured creditors will drop their $1.6 billion claim, and instead adopt a mediated global settlement. OneWeb has asked its bankruptcy court for permission to modify various disclosures which would reflect the new settlement which reflects the decision of the Official Committee of Unsecured Creditors. OneWeb had […]
Reed Midem has announced that CEO Paul Zilk will step down from his role at the global business event organiser. He will be succeeded by Michel Filzi, who is President/CEO of sibling company Reed Expositions France. The change will become effective from October 1st. “We are grateful to Paul for his leadership and success in […]
In-Flight communications and broadband business, Gogo, says its directors have adopted a tax-efficient ‘Rights Plan’ to utilise and take its net operating loss forward. Gogo, which is in the process of selling its Commercial Aviation division to Intelsat for $400 million, says as at December 31st last year it had approximately $580 million of federal […]
Globecast, the global solutions provider, has announced Antoine Guilbaud as Chief Financial Officer. He replaces Nathalie Krick, who is taking up a new role in Globecast’s sister company, Orange Cyberdefense. Guilbaud’s duties include providing the CEO and management board with financial and management information to ensure proper driving of the business and to oversee the […]