Antenna eyes $3bn Euro spree
Antenna TV is looking to assemble a $3 billion war chest to fund a media spending spree in Europe, focusing primarily on UK companies, says Variety.
Antenna vice-chairman Theodore Kyriakou says the Greek broadcasting group was eyeing investment opportunities in Europe, following the sale of Bulgarian channel Nova TV to Sweden's Modern Times Group for $853 million (R8 billion).
He recruited former ProSiebenSat.1 CEO Guillaume de Posch last month, to advise on potential acquisition targets.
Sky told to divest in ITV
UK competition minister Gareth Thomas has published draft statutory undertakings which would require Britain's Sky Broadcasting Group to divest a proportion of its shares in ITV, states Media Newswire.
The decision that Sky's shareholding in ITV should be reduced to remedy the substantial lessening of competition the Competition Commission had found arose from Sky acquiring 17.9% of ITV shares.
Sky hopes to appeal the decision through the Competition Appeal Tribunal and Court of Appeal. The Department for Business has begun the necessary consultation on these draft undertakings to ensure swift implementation of the remedies, should the decision be upheld by the Court.
AT&T squares off with Comcast
AT&T is rolling out its television service in Lansing and East Lansing in the US, reports Lansing State Journal.
San Antonio-based AT&T led an effort in 2006 to reform local cable franchise agreements in Michigan and open communities for cable competition. At the time, the company pledged to spend $620 million upgrading its Michigan network to handle its TV service.
AT&T's U-verse cable TV service initially will be available in parts of Lansing, East Lansing, Meridian Township and Jackson. Neighbourhoods in AT&T's traditional phone territory will be added as the company upgrades its system.
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