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Sprint uses leased equipment, bridge to raise USD 3 bln
2016-04-29 16:59:00| Telecompaper Headlines
(Telecompaper) Sprint has upped its liquidity by over USD 3 billion after signing a new deal with Mobile Leasing Solutions (MLS) for the sale and lease-back of certain leased devices. Arranged by Mizuho Securities, the transaction is expected to provide the company with about USD 1.1 billion in cash proceeds. Sprint has also signed an 18-month bridge financing facility arranged by Mizuho Bank, providing USD 2 billion of additional liquidity. These transactions, in addition to the USD 2.2 billion of network-related financing that was announced earlier this month, improved the company's liquidity position by more than USD 5 billion in April.
Tags: equipment
usd
bridge
raise
NBCUniversal to buy DreamWorks Animation for USD 3.8 bln
2016-04-28 15:25:00| Telecompaper Headlines
(Telecompaper) Comcast announced an agreement to acquire the film studio DreamWorks Animation for USD 3.8 billion. The deal will strengthen its Universal Pictures division with a range of especially family entertainment, which can also be distributed across its other media, broadband and theme park properties. DreamWorks Animation stockholders will receive USD 41 in cash per share in the takeover expected to close by the end of 2016, pending regulatory approval. Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, a new unit grouping Comcast's stakes in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.
Tags: buy
usd
animation
dreamworks
Google grows quarterly sales 17% to over USD 20 bln
2016-04-22 08:28:00| Telecompaper Headlines
(Telecompaper) Alphabet, the parent company of Google, reported first-quarter sales up 17 percent year-on-year to USD 20.257 billion. Excluding currency effects, revenues rose 23 percent. The company's operating margin was stable at 26 percent, and net profit rose to USD 4.207 billion or USD 6.02 per share from USD 3.515 billion or USD 5.10 a year ago. Google alone, excluding the company's 'other bets', also posted revenues up 17 percent, at USD 20.091 billion, and its operating profit rose to USD 6.272 billion from USD 5.188 billion. The 'other bets' contributed an operating loss of USD 802 million on revenue of USD 166 million. Alphabet collected USD 7.658 billion in operating cash flow in the quarter and spent USD 2.428 billion on capital equipment, leaving it with total cash of USD 75.264 billion at the end of March.
Tags: sales
google
usd
quarterly
Sky's 9-mth operating profit up 12% to GBP 1.14 bln
2016-04-21 09:35:00| Telecompaper Headlines
(Telecompaper) European pay-TV provider Sky reported operating profit for the nine months to March up 12 percent year-on-year to GBP 1.14 billion after experiencing "good trading" across all its markets. Group revenues grew by 5 percent to GBP 8.72 billion, with a 6 percent increase in UK and Ireland and a 10 percent growth in Germany and Austria offsetting a 2 percent fall in sales in Italy. Overall Sky said 177,000 new customers joined in the quarter to the end of March to reach a total of 21.7 million across its European operations.
Tags: operating
profit
gbp
bln
Canada's Mitel to acquire Polycom for USD 1.96 bln
2016-04-15 13:58:00| Telecompaper Headlines
(Telecompaper) Canadian business cloud and mobile communications company Mitel Networks has announced a deal to acquire Polycom, a US-based provider of video, voice and content collaboration products, for a total of USD 1.96 billion. Under the terms of the deal, Polycom stockholders will get USD 3.12 in cash and 1.31 Mitel shares for each of their shares, said Mitel, adding that the aim is to combine Mitel's global communications expertise with Polycom's well-known brand and portfolio in the conference and video collaboration market to create a company with EUR 2.5 billion in annual revenues.
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