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YouTube to buy Twitch for over USD 1 bln - report
2014-05-19 09:15:00| Telecompaper Headlines
(Telecompaper) Google's YouTube has agreed to buy videogame streaming specialist Twitch for more than USD 1 billion in cash, Variety reported, citing sources familiar with the matter. The deal is expected to be announced imminently. If completed, the acquisition will be the most significant in the history of YouTube, which Google acquired in 2006 for USD 1.65 billion. Both YouTube and Twitch declined to comment but the report added that YouTube is preparing for US regulators to challenge the Twitch deal on anti-competitive issues in the online-video market.
AT&T agrees DirecTV takeover for USD 48.5 bln
2014-05-19 08:46:00| Telecompaper Headlines
(Telecompaper) AT&T has agreed to acquire the satellite pay-TV provider DirecTV for USD 48.5 billion. The acquisition strengthens its TV offering in the US, while also giving it a new growth market with DirecTV's over 18 million customers in Latin America. AT&T will pay USD 95 per share for DirecTV, including USD 28.50 per share in cash and USD 66.50 in AT&T stock. The deal values DirecTV's equity at USD 48.5 billion, while the total transaction is worth USD 67.1 billion including DirecTV's net debt. After the deal, DirecTV shareholders will own 14.5-15.8 percent of AT&T. AT&T intends to finance the cash portion of the transaction through a combination of cash on hand, sale of non-core assets, committed financing facilities and debt market transactions. To facilitate the regulatory approval process in Latin America, AT&T intends to sell its stake in America Movil, which competes against DirecTV on the pay-TV market in the region. AT&T's members on the America Movil board will step down immediately. AT&T expects the deal to add to its free cash flow per share and adjusted EPS within 12 months of closing. The companies also expect over USD 1.6 billion in cost synergies from the takeover within three years, driven in part by increased sales of TV services to AT&T's fixed and mobile customers.
SFR revenue drops 5.8% to EUR 2.44 bln in Q1
2014-05-15 09:18:00| Telecompaper Headlines
(Telecompaper) French operator SFR had EUR 2.44 billion of revenue in the first quarter, down 5.8 percent on the first quarter of 2013, reports Vivendi, which classifies SFR as a discontinued operation since reaching an agreement to sell it to Numericable and Altice. SFR's decreased slowed in the first quarter, compared to a 7.1 percent decline in the last quarter of 2013. Retail revenues decreased by 8.9 percent to EUR 1.61 billion. The operator's total mobile customer base rose by 3.2 percent over a year to 21.29 million, including 18.02 million postpaid customers. In the first quarter alone, it decreased by 21,000. The broadband internet residential customer base grew by 43,000 in the first quarter, to reach 5.25 million. FTTH customers reached 221,000 and multi-pack customers grew by 528,000 in a year to 2.48 million at the end of March (47.3% of all broadband internet customers). SFR's EBITDA fell by 11 percent to EUR 625 million, a decrease softened by its transformation plan.
AT&T near USD 50 bln takeover of DirecTV - report
2014-05-13 09:18:00| Telecompaper Headlines
(Telecompaper) AT&T is in advanced talks to acquire DirecTV for about USD 50 billion, people familiar with the matter told Bloomberg. Under the plan being discussed, management of DirecTV, the largest US satellite-TV provider, will continue to run the company as a unit of AT&T. DirecTV CEO Mike White plans to retire after 2015, the report said. The deal is more than a week away from being completed, one source told Bloomberg. The two companies are still negotiating a price, which could come close to USD 95 a share, depending on how much cash or stock is in the transaction. Two other people said the price could go as high as USD 100 per DirecTV share. DirecTV had also drawn merger interest from rival Dish Network, Bloomberg reported earlier. However, Dish chairman Charline Ergen recently said he though the satellite-TV rival is too expensive to pursue.
Vivendi to redistribute EUR 5 bln from SFR sale
2014-04-25 08:57:00| Telecompaper Headlines
(Telecompaper) Vivendi announced that it will have about EUR 5 billion of cash after the sale of French operator SFR to Altice/Numeriable and will initially redistribute EUR 3.5 billion to its shareholders in the form of dividends and/or share buy-backs. Chairman and CEO Jean Fourtou also confirmed that he would step down at the AGM of 24 June to be succeeded by Vincen Bollore.
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