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...“We remain a very cash-generative business,” said Thompson, who was hired by Warner Bros Discovery chief executive David Zaslav....
...As part of the strategy update, the broadcaster is expected to continue to slim down its operation because of a cash crunch due to the freeze in licence-fee income over the past two years....
...The BBC is also cutting jobs as it grapples with a cash crunch caused by the freeze in its licence fee over the past two years, while analysts said that ITV could reveal job cuts at its results next month...
...The move comes as the Barclay family have scrambled to sell off assets to raise cash, including the Spectator magazine’s headquarters in Westminster, and Yodel, the parcel delivery group....
...Comcast has had to write down the value of Sky in its books since acquiring the business in 2018 for £32bn as the result of higher interest rates and reduced estimated future cash flows....
...For Europe’s laggard carmakers, this slowing growth isn’t all bad news: higher-margin combustion engine vehicle sales will help with cash flows while they invest in new models....
...Blackstone over the weekend made a proposal to the company’s board to acquire the music rights group for $1.24 per share in cash to try to derail the recommended offer from Concord....
...seeks to derail Concord Chorus’s proposed $1.4bn takeover of the UK-listed music rights investment company Blackstone said on Saturday it had made a proposal to acquire the business for $1.24 per share in cash...
...Blackstone president Jonathan Gray warned this week that it would take time for firms to return cash to investors, as the sector continues to sit on record amounts of unsold assets....
...It is a troubled mid-cap, with a market value of £971mn and negative free cash flow. Its problems are of its own making....
...Helen Thomas will be back next week. Have a great week, Nathalie ThomasLex writer nathalie.thomas@ft.com...
...The cash crunch emerged with the failure of China Evergrande in 2021 and has since weighed heavily on construction and confidence in the housing market....
...It had a cash balance of £10.7mn at the year end....
...The broadcaster said the deal was for a cash sum of £255mn, providing net proceeds of about £235mn....
...China’s economy has struggled to regain momentum against a backdrop of deflation, low consumer confidence and a cash crunch across the country’s major property developers....
...Because of the cut to its net asset value, the board said it would need to reduce debt using the company’s free cash flow....
...BNP’s Chinese expansion comes as the French lender is also deploying some of the cash earmarked for small and mid-sized acquisitions left over from its $16.3bn sale of Bank of the West in the US....
...Buying real estate is not the smartest use of luxury cash flows — even leaving aside the challenges Kering faces with its key brand Gucci. Read more....
...It faces a cash crunch after the government froze the licence fee for two years in 2022 as inflation rose sharply and set a strict limit for increases from April this year....
...China’s economic data is being closely watched for any signs of improved momentum after a period marked by deflation, low consumer confidence and a property cash crunch that has spread to some of the country...
...default in October, two years after the 2021 collapse of its peer Evergrande, showed that developers thought to be among the country’s most resilient were still under severe pressure from a sector-wide cash...
...The struggles of both companies, once seen as among the most trusted real estate developers in China, highlights the impact of a two-and-a-half-year cash crunch that has weighed on construction and the wider...
...Although a decision has yet to be made, Warner said the offer could be in cash....
...Get in touch with your thoughts about this newsletter — or anything else — via helen.thomas@ft.com or lexfeedback@ft.com. Helen ThomasHead of Lex...
...Hipgnosis Songs Fund has slashed the value of its music portfolio by more than a quarter, and said it would need to use free cash to pay down debt, in the latest blow to investors in the UK-listed music...
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