BT says it has not overpaid after beating Sky to UEFA Champions League rights March 6, 2017 BT has won the battle to secure the UK TV rights for European Champions League football for the next three years in a deal that will cost the telecoms giant £1.2bn and dismissed suggestions it has overpaid for them The deal, announced this morning, means BT will continue its coverage of Europe's premier club football competition until the [...]
21st Century Fox lodges Sky takeover with European Commission with government “minded” to scrutinise deal March 3, 2017 The government has indicated it will likely scrutinise the takeover of Sky by 21st Century Fox. The US media giant notified the European Commission today, which in turn referred the transaction to Culture, Media and Sport secretary Karen Bradley. While the Bradley has 10 days to decide whether or not she will review the deal, [...]
Sky takeover: 21st Century to lodge deal papers with European authorities, firing the starting pistol on regulatory approval process March 1, 2017 Rupert Murdoch's 21st Century Fox will take one step closer to sealing its takeover of Sky by lodging documents with European authorities this week. Fox is expected to ask Brussels to approve the deal, a move that starts the clock on 10-day window for culture secretary Karen Bradley to open an investigation into the £11.7bn bid to take control [...]
Ofcom will leave current postal rules in place for five years after Royal Mail performance improves March 1, 2017 Communications regulator Ofcom has said it will leave current postal rules in place for five years after concluding a review of Royal Mail regulation, saying it had made progress. The regulator said the service had been under "significant pressure" incurring a loss of more than £100m in 2011 as people continued to send fewer letters, but [...]
BT customers to see bills reduced by at least £5 under Ofcom proposals February 28, 2017 BT customers will see their landline-only bills cut by at least £5 a month, according to new plans published by communications watchdog Ofcom. The regulator conducted a review of the landline-only market, announced in December last year, and found that customers on such contracts – who are often elderly or vulnerable people who have remained with the [...]
BT Openreach’s final board line-up is structurally flawed, says TalkTalk’s Dido Harding February 14, 2017 Openreach today revealed its final board line-up in a push to prove its independence from parent BT, only for the move to be branded "meaningless" by TalkTalk. LIz Benison, a high ranking executive at Serco, will take her place as a non-exec alongside chairman Mike McTighe, Edward Astle and Sir Brendan Barber. Openreach said the appointment means independent [...]
Hedge funds bank on Sky takeover bid success February 12, 2017 Two US hedge funds have banked on the Murdoch family succeeding in taking over the UK-based communications giant, Sky plc. According to reports in the Sunday Telegraph, the two funds, HBK and Pentwater, each disclosed they have amassed positions worth £310m and £300m respectively. In December last year, 21st Century Fox announced that it would be [...]
Fresh from its dispute with Sky, Discovery channel Eurosport has clinched the Olympics across six countries February 1, 2017 Fresh from securing a last-minute deal with Sky to save its channels yesterday, Discovery today announced an Olympic tie-up with broadcasters across six European countries. Discovery spent last week embroiled in a public spat with Sky over the future of its channels on Sky's UK and German platforms. Read more: Sky & Discovery close in on 11th [...]
BT Openreach separation plans to “rebuild trust and credibility” aren’t enough for Ofcom February 1, 2017 BT plans to make Openreach more independent by bolstering its board were today rebuffed by regulators as falling short of their requirements. Openreach held its first board full meeting yesterday and today announced the appointment of Sir Brendan Barber, the former general secretary of the Trade Union Congress, Edward Astle, a former board member of the National Grid, as independent [...]
Problems mount for BT as US lawsuits are filed and Italian prosecutors kick-off investigation January 25, 2017 Telecoms giant BT has been hit by at least two US lawsuits after admitting to a £530m black hole in the accounts of its Italian arm. The lawsuits have been filed on behalf of shareholders, Reuters reported tonight, accusing BT and three executives of securities fraud. Earlier today Italian prosecutors confirmed they had opened a [...]