AT&T have reported a fall in quarterly profit. While the top US telco added a net 2.1 million subscribers during the quarter, higher than the average analyst forecast for 1.9 million subscribers, investors remained concerned about a weakening wireline business. It reported a net addition of 264,000 subscribers to its U-verse video service in the […]

Thomson group has warned it is likely to breach certain debt covenants and needed to bolster its balance sheet, notably by selling more non-core activities. The loss-making company said it would sell businesses which contributed around E1 billion to 2008 sales, including Grass Valley and PRN, for which it has already received expressions of interest, […]

The theory that home-entertainment wins out in a recession is proved again with the latest results from BSkyB. Europe's biggest pay-TV operation announced net customer growth of 171,000 for the second quarter (to December 31, 2008), up from 167,000 for the like period a year earlier. Total base is now 9.24m. Like for like operating […]

Verizon, the US' second largest telco, said its earnings increased 15 percent in the fourth quarter, as the shrinking economy did little to dampen appetites for wireless, Internet and TV service. The company said it earned $1.24 billion, up from $1.07 billion a year earlier. Revenue rose 3.4 percent to $24.6 billion from a year […]

Sony has said it expects to post a record annual operating loss of nearly $3 billion because of the rapid deterioration of the global economy. It also announced a major overhaul that would include layoffs and factory closings. "The massive economic upheaval being experienced across the world is sparing no one in the consumer electronics […]

Sirius XM Radio Inc plans to increase prices for subscribers with multiple accounts and begin to charge for its online music feed. While it is keeping its core rates unchanged — a condition to which Sirius and XM Satellite Radio agreed last year in order to close their merger — the move could anger subscribers […]

Virgin Media is considering whether to delist on New York's Nasdaq – a legacy of its ntl past – in favour of listing back at home in the UK, as part of a review of company finances. "Our new CFO is looking at our capital structure, including how we are listed and what our dividend […]

Balderton Capital, the UK venture capital group that backed the Betfair gambling website and Setanta, the pay-TV broadcaster, has defied the gloom in financial markets saying it has raised £282m (E358m) for technology and media investments. Founded in 2000 as the London-based arm of Benchmark Capital, the Silicon Valley venture capital group, Balderton has become […]

Time Warner announced it will record some $25 billion in write-downs for the fourth quarter, with nearly $15 billion of it coming from Time Warner Cable. Time Warner, which owns 85% of the cable company but has been planning to spin off the stake to shareholders, said beyond the cable business, the write-downs will involve […]

Set-top box maker Pace said it was confident in meeting City expectations for 2009, thanks to ongoing strong demand. The company, which confirmed it expected to meet 2008 forecasts, said it was continuing to take a prudent view of the market given the global economic downturn. Pace had previously said that the strong dollar would […]