Troubled Hollywood studio MGM on December 2nd saw its bankruptcy reorganisation plan approved by a New York court, and cleared the way for MGM to speedily exit its Chapter 11 bankruptcy. MGM expects the new plan to become effective mid-December. “Today’s ruling is an important milestone for MGM,” said Co-CEO Steven Cooper. “Thanks to the […]
O3b is a new satellite constellation that is promising fibre-like speeds from orbiting craft and providing broadband connectivity to “the Other 3 Billion” (O3b) of largely unconnected people and businesses either side of the Equator. SES already owns 34 per cent of O3b. SES will invest a further $75 million over the next3 years. O3b […]
German shareholder representation group DSW has stated the board of Sky Deutschland has an obligation to take legal action against the company’s former management over its alleged misstating of subscriber numbers and its financial situation. Last week the company was castigated by financial regulator BaFin for allegedly overstating its subscriber figures and thereby misleading the […]
Media group Prisa, main owner of digital DTH platform, Digital Plus, is to get a cash injection of E650 million following the approval by shareholders of US investment group Liberty Acquisitions Holdings. Under the agreement, Prisa will buy 100 per cent of Liberty through the issuance of approximately E225 million new ordinary shares and 403 […]
Michael Grade, the former head of Channel 4, has called for the group to be funded by the BBC licence fee, “to repair a broadcasting model that is fast breaking down”. Grade, who was chief executive of C4 in the 1990s, said the move would allow C4 to abandon advertising as its source of funding, […]
TV technology development and investment company TV Everywhere has announced an investment in KLipcorp, a company specialising in IP protection in the digital age. KLipcorp assist clients such as leading sports governing bodies, cinema and TV rights owners in monitoring and policing digital piracy. The company has already worked for the Football Association, IMG and […]
French media group Lagardere will sell its stake in pay-TV group Canal+ France in an initial public offering (IPO) in spring 2011, its Chief Financial Officer Dominique d’Hinnin has stated. D’Hinnin told investors that Canal+’s majority owner Vivendi had never responded to a price proposal Lagardere had sent early this year, and there had been […]
BlackArrow, a company that provides advertising products for “new TV” platforms, has raised funding from Motorola through its investment arm, Motorola Ventures. The company says that the investment is an extension of BlackArrow’s previously announced $20 million Series C funding round earlier this year. Terms of Motorola’s investment were not disclosed. To date BlackArrow has […]
Paris-based The Strategic Investment Fund, Eutelsat’s second largest shareholder with a 25 per cent stake, said yesterday that it had no intention to withdraw from the satellite operator. “The performance of the company and its future strategy does not lead us to consider disengagement,” said Thierry Sommelet, Director of Investment at SIF, talking to La […]
The lenders of German cable operator PrimaCom have confirmed that they have taken over the company in a debt-for-equity swap. In exchange for writing down PrimaCom’s loans, the lenders – including US-based hedge fund Tennenbaum Capital Partners, Avenue Capital Group and London-based Alcentra Group – will acquire all of the shares in holding company Medfort […]