Hipgnosis secures new debt deal at it rides ‘increasingly unpredictable’ market October 3, 2022 Music investment titan Hipgnosis Songs Fund has secured a new debt financing deal this morning as the firm rides on a “unpredictable” market. The company confirmed that it had entered into a new Revolving Credit Facility (RCF) with a commitment of $700m, which runs for five years. In simple terms, an RCF gives a company added [...]
BBC slashes nearly 400 jobs as licence fee squeeze continues September 29, 2022 The BBC has slashed nearly 400 jobs from its world service division as the broadcaster feels the increasing pressure of the licence fee freeze. The Beeb said it would be moving towards a “digital-first” strategy for the BBC World Service, cutting 382 posts in the process. “Changing audience needs around the world – with more [...]
Whatsapp boss warns govt against changes to encryption in online safety September 28, 2022 The chief of Whatsapp has warned the government against making drastic changes to message encryption in the online safety bill. Speaking with the Financial Times, Will Cathcart said that there were other ways of protecting children on apps rather than threatening encryption and explained that any move to undermine security could endanger the government’s own [...]
Hey Brother: Avicii estate sells rights to DJ’s top hits September 28, 2022 Avicii’s top hits have been sold off to Stockholm-based entertainment firm Pophouse, adding to the tide of artists who have cashed in on their hits in recent years. In an announcement this afternoon, Pophouse, best known for developing the ABBA Voyage show in London, said it had acquired a 75 per cent ownership in the [...]
Fleet Street giant Tony Gallagher named new editor of The Times September 28, 2022 Fleet Street legend Tony Gallagher has been named the new editor of The Times, taking the reins from veteran John Witherow as the paper pushes forward on both print and digital fronts. After serving as deputy editor since 2020, Gallagher, 58, said this morning that he was “enormously proud” to take up the top spot, adding that the [...]
Sports streaming platform DAZN acquires ELEVEN Group September 27, 2022 Global sports streaming service Dazn has acquired Eleven Sports, making it the biggest football rights holder in Europe. Dazn Chairman Kevin Mayer described the deal as a “major moment” for the company because it will allow them to progress with their ambition to become a “daily destination for sports fans” globally. “It’s a win, win, [...]
John Witherow steps down as editor of The Times after almost a decade September 27, 2022 John Witherow is stepping down as editor of The Times with immediate effect after nearly a decade in the role.
Exclusive: STV’s boss on the BBC and conquering the world as Scotland’s peaktime leader September 27, 2022 The British broadcasting sector is hit by one challenge after the next. Following the rapid rise of the likes of Netflix in recent years, the next hurdle presented itself when the pandemic struck two years ago. As a result, the advertising market is under huge pressure and many national and regional broadcasters are struggling to [...]
Exclusive: Entertainment and media firms hold nerve against economic instability September 27, 2022 UK entertainment and media firms are holding their nerve against a backdrop of economic turmoil, opting for digital investment over cuts. While there is short-term uncertainty in the market, confidence and growth can be seen in the long-term direction of the entertainment and media (E&M) industry, according to a new report from PwC. The big [...]
TikTok could face £27m fine over children’s privacy allegations September 26, 2022 TikTok is facing a possible £27m fine over claims it may have broken UK data protection law and failed to protect children’s privacy. The Information Commissioner (ICO) handed the social media platform a ‘notice of intent’ over alleged breaches between May 2018 and 2020. The investigation discovered TikTok may have processed children’s data without the [...]
