Finance & Law
Viaplay eyes double-digit profit margin in five years following rescue package
Viaplay Group aims to deliver double-digit operating profit margins within five years following the drastic cost reduction programme enacted over the last six months and exits from loss-making international…
Famed sports docuseries producers Box to Box raises £30m from Bruin
Global sports and entertainment investment company Bruin Capital has made a significant investment in Box to Box Films, the UK production company behind the array of popular Netflix sports docuseries
NFL ‘in advanced talks’ to take ESPN stake
Disney and the National Football League have held "advanced talks" over the latter taking an equity stake in ESPN, it has been claimed
CFO Wallace reunited with Francini at Iris
Iris Sport Media, the company set up by Ioris Francini and his former IMG colleagues Floris Weisz and Luca Baldanza, has recruited Graham Wallace as chief corporate and financial officer
Twitch’s Jacobs becomes DAZN’s first global CRO
DAZN has recruited Walker Jacobs from Twitch to the newly created position of global chief revenue officer and president of DAZN’s US operation.
Sporting CP open to minority investor after using future TV money to pay off banks
Sporting CP, the Portuguese football powerhouse, is on the lookout for a minority investor after successfully buying back Mandatory Convertible Securities (VMOC) from Novo Banco using future media rights…
Cuban talks up real estate revenues over media rights as Mavs sale signed off
Mark Cuban said the changing media landscape in the United States contributed to his decision to sell his majority stake in the National Basketball Association's Dallas Mavericks
Barcelona sues Libero over missed payments, nets €160m from TV payout
FC Barcelona is to sue German investor Libero Football Finance over missed payments for its stake in the LaLiga club's Barça Vision digital media business.
Viaplay ups monthly prices as part of ongoing rescue act
Viaplay Group has instigated price increases in two of its core markets as it bids to turn the tide after a turbulent 2023 dominated by huge financial losses, share sales and workforce cuts
ECJ rules against Fifa, Uefa but no ESL approval yet; A22 plots free OTT service
Fifa and Uefa acted unlawfully when they threatened to ban clubs and players joining breakaway competitions like the European Super League (ESL), the European Court of Justice (ECJ) has ruled
WBD ‘in merger talks’ with Paramount Global
Warner Bros. Discovery chief executive David Zaslav and Paramount Global chief executive Bob Bakish have met to discuss a potential merger between the two media giants, according to multiple reports
Spanish government counteracts Saudi investment in Telefónica
The Spanish government has agreed a deal to acquire up to a 10-per-cent stake in Telefónica, in a move that will counterbalance investment in the telecoms operator from Saudi Arabia’s STC Group.
DAZN operating loss cut but still runs into 10 figures
DAZN recorded an operating loss of $1.06bn (€969m) in 2022 on the back of increased rights fee commitments but higher direct-to-consumer revenues helped to reduce the figure by 22 per cent year-over-year, SportBusiness understands.
Sharma’s $300m Bluestone fund invests in Magnifi
Bluestone Equity Partners, the private equity fund founded by Bobby Sharma, a former executive at IMG and the National Basketball League, has invested in Magnifi, an AI-powered video editing technology…
RTL Group to sell Dutch broadcast business for €1.1bn
European media conglomerate RTL Group has reached an agreement for the sale of Dutch broadcaster RTL to DPG Media, a multimedia company with operations in the Netherlands, Belgium and Denmark.
Broadcasters, rights-holders ward off EU geo-blocking ban
Broadcasters and rights-holders have claimed victory in their battle to preserve territorial exclusivity in Europe after law-makers resisted calls to ban geo-blocking
Liberty Media’s tracking stock, SiriusXM combine in new public company
Liberty Media's Liberty SiriusXM (LSXM) tracking stock group will be combined with US radio broadcaster SiriusXM to create a new public company under the SiriusXM name and brand
ESPN stalwart Wolff to take up Sixth Street position
Russell Wolff, who recently left ESPN after 26 years with the Disney-owned sports broadcaster, is joining global investment firm Sixth Street