Sunday, September 27, 2020

Week 39 in Telecoms, Internet, Media

M&A

Telecoms

  • Play
    • Iliad acquires 40.2% controlling stake (incl Board majority) from Kenbourne (Novator, 20.1%) and Tollerton (Panos Germanos, 20.1%) at 39.00 PLZ/share; other shareholders: NN/OFE 5.6%, free float 54.%
    • launches public offer: 39.00 PLZ/share cash (100% equity value EUR 2.2b, EV EUR 3.479b = 6.8x EBITDA AL TTM = 9.9x OpFCF TTM pre synergies), premium 39% over 200918
    • acceptance period 201019-201117, settlement & closing 201125
    • to be financed from cash & debt, leverage to rise pro forme from 2.2 to 3.2; to continue spinning off & selling its passive infrastructure
    • 'Through this acquisition, Iliad will cement its position as a pan-European telecom player'
    • Iliad becomes #6 telco in Europe based on mobile subscribers (behind Vodafone, DT, Telefonica, Orange, 3 Group Europe)
    • EU deadline for Iliad offer clearance 201026
  • Telecoms other

Media

  • Broadcast
    • Discovery: Rumor: considers alliance with Mediaset
  • OTT video, gaming
    • Megogo: Rumor: VEON plans offer, RUB 9b
    • Quibi: WSJ: plans strategy review, may put itself up for sale, raise funds or lit through merger with SPAC
    • Microsoft: Acquires ZeniMax Media (owns Bethesda Softworks: game developer & publisher), $7.5b cash
  • Publishing


Networks

HFC

  • Virgin Media trials 2.2 Gb/s (Gig 2) over Docsis 3.1 (by adding second OFDM block) - To expand FTTP to Burgess Hill (14k premises)

5G


Services

Telecoms business market

  • AT&T to provide UDG Healthcare with global SD-WAN (from Cisco)
  • AT&T partners with Microsoft for global IoT connectivity, based on Azure Sphere
  • Microsoft Ignite
    • Launches Azure Communication Services for developers to add voice & video calling, chat, text messages to apps
    • Launches Azure Orbital: cloud-based satellite data processing platform (groundstation-as-a-service), with SES
    • Teams adds features: virtual commutes, meditation breaks, work habits, Together Mode, Dynamic View, Breakout Rooms, recaps, presentation, calling, new devices
  • Smart Profile & Dutch IT-channel report on business market NL (Onderzoek Digitale Mobiliteit): >75% have Digital Workplace strategy
Telecoms consumer market

Internet

Media: video

  • Netflix: originals and content news
  • Walt Disney: Disney+ distr deal with Google for Assistant-enabled devices from Nest (Nest Hub, Nest Hub Max)
  • Samsung: Samsung TV Plus (free AVOD; US; currently on smart TVs) expands to Galaxy smartphones


Regulatory

Telecoms: auctions

Facebook
Platforms general
  • US DoJ proposes limiting Section 230 (part of Communications Decency Act; protecting platforms from liability over content posted by users, users not protected from copyright violations or certain types of criminal acts) as folow-up to Exec Order [see 200528]: platforms to be transparent about content removals; may be liable for content modified, narrows criteria online platforms must meet to earn liability protections
  • Facebook, YouTube, Twitter partner with Global Alliance for Responsible Media against fake news, hate speech
  • Coalition for App Fairness established by Epic Games, Spotify, Match Group, Proton Technologies, News Media Europe, Basecamp; to pressure for app store regulation - Apple temporarily waives app store fee for Facebook’s online events until 201231 (in support of small businesses during corona virus lockdown) - Google updates Play Store guidelines: most apps must use Google's billing service for in-app content downloads, game upgrades, subscriptions
  • US Senate Commerce Committee plans to issue subpoenas if needed to CEOs of Google, Facebook, Twitter for hearing 201001


at 5:54 pm
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