London-based Avanti Communications has recapitalised and cut its debt burden in the process. Avanti has been under extreme financial stress for some time and entered Chapter 11 bankruptcy reconstruction in 2018. The company, which supplies Ka-band satellite capacity over Europe, the MENA region and Africa, has faced recent pressure because of the risk of a […]
French broadcasting rules and obligations are probably the toughest in Europe, and are likely to become even more rigid. The French senate has published a report on media concentration, which some observers say was prompted by the merger proposals between TF1 and M6 and the Vivendi take-over bid of Lagardère. A report to clients from […]
Barclays Bank has issued a note from its equity analysts which favours “defensive stocks” such as SES and Eutelsat. The bank says that the current economic uncertainties mean that its former recommendations for global ad-agencies such as WPP, Omnicom, Interpublic and Publicis are downgraded to ‘Equal Weight’ from ‘Overweight’. The bank says there could be […]
MFE-MediaForEurope, the Berlusconi-backed broadcaster, has announced a bid for the 44 per cent of Mediaset Spain that it does not own. The bid has an implied price per share of €5.60. MFE is offering cash of €1.86 per Mediaset Spain share, plus 4.5 MFE A shares per MSE share held. The implied value, at close […]
A report from investment analysts at Berenberg Bank looks closely at satellite operator SES, and maintains a ‘Buy’ rating although the bank softens its Price Target on the operator’s shares, and lowers its target slightly from €10 to €9.80 (today at €6.92). The bank’s report says that over the next two years SES has three […]
Analysts at investment bank BNP/Paribas, in a report on the media sector and satellite activity, suggest that the existing market (notably Europe’s two satellite giants SES and Eutelsat) could be affected by the EU’s decision on plans for a European-financed Low Earth orbiting constellation. The bank says: “In 2022, the EU is likely to make […]
A report from investment bank BNP Paribas forecasts that Google’s Alphabet will grow this year by 4 per cent despite suffering threats over potential iOS privacy events. The bank also suggests that Google Search could even prove to be a beneficiary as marketers shift their advertising budgets to other verticals (e.g. Search and Android-based OS […]