Chinese tech tycoons lose $87bn amid Beijing crackdown August 9, 2021 A crackdown on Chinese tech giants by regulators in Beijing is estimated to have wiped $87bn (£63bn) off the personal fortunes of tycoons such as Alibaba’s Jack Ma in the last month alone. Authorities have launched a fierce campaign against some of the country’s biggest tech firms amid concerns about their escalating power, sparking sharp [...]
Tech firm NetEase pulls $1bn Cloud Village IPO after Beijing’s attack on gaming August 9, 2021 Chinese technology firm NetEase has put a pin in its $1bn Hong Kong listing for its music streaming service Cloud Village due to recent volatility in the tech market, according to reports. The initial public offering (IPO) had already been approved by the Hong Kong Stock Exchange’s listing committee, according to filings lodged with the exchange. [...]
TikTok owner mulls Hong Kong IPO, once it can fly by hawkish regulators August 9, 2021 China’s ByteDance, the owner of popular short video platform TikTok, has yet again tabled plans to list in Hong Kong once it has addressed Chinese regulators’ concerns, according to reports. The news and entertainment group is eyeing the fourth quarter of this year or early 2022, the Financial Times reported, citing sources familiar with the [...]
Daily Mail owner to sell insurance business for £1.4bn, clearing the way for take-private bid August 5, 2021 Daily Mail owner DMGT has today confirmed that it will sell its risk insurance business RMS to Moody’s for £1.4bn, the first step in a bid to take the group private. Last month it was revealed that the Rothermere family was considering a bid for a slimmed-down version of DMGT. An £810m offer is contingent [...]
Hello Sunshine, Reese Witherspoon’s company behind hit Big Little Lies, valued at $900m in Blackstone deal August 2, 2021 Academy award-winning actress Reese Witherspoon’s media company, Hello Sunshine, is selling itself to a newly formed media firm backed by Blackstone Group Inc for an undisclosed sum. The sale will value the company at about $900 million, people familiar with the matter told Reuters. Founded in 2016, Hello Sunshine is the women-led production house behind [...]
Government to pump £5bn into speedier internet to accelerate Covid recovery August 2, 2021 The government is pumping £5bn into speeding up internet access to those in rural parts of the UK, in a bid to accelerate the country’s Covid-19 recovery. Millions stand to benefit from the government’s Project Gigabit fund, which seeks to upgrade digital infrastructure in hard-to-reach areas. The fund also looks to “fire up” high-growth sectors [...]
UK to gain new £700m film and TV studio amid streaming goldrush August 1, 2021 The UK is set to gain yet another major film and TV studio complex after private equity giant Blackstone unveiled plans to build a major new hub near London. Funds managed by Blackstone Real Estate Partners and LA-based Hudson Pacific Properties have acquired a 91-acre site in Hertfordshire, 17 miles north of central London, for [...]
Olympics broadcaster Discovery mulls bid for Channel 4 August 1, 2021 American broadcaster Discovery is considering a bid for Channel 4 as the government attempts to privatise the channel. Discovery, which owns Eurosport and a number of other UK channels, is reportedly looking to challenge ITV with the potential move. The Sunday Telegraph reports that Discovery is holding preliminary talks around putting in a bid for [...]
Gary Lineker joins LaLigaTV in ‘multi-year’ deal July 30, 2021 Gary Lineker has joined LaLigaTV as a presenter in a “multi-year agreement” to front coverage of Spain’s top-flight football league. The former England striker will present key fixtures on the 24-hour channel and feature regularly on its Viva LaLiga studio programme broadcast live from Barcelona. Lineker, who played for Barcelon during his career, already presents [...]
Scarlett Johansson sues Disney over Black Widow streaming release July 30, 2021 Scarlett Johansson is suing Disney over its decision to release new superhero blockbuster Black Widow on its streaming platform. The actor, who stars in the new Marvel thriller, alleges that the media giant breached her contract when it offered the film on Disney Plus at the same time as in cinemas. Disney said there was [...]