NENT Group’s Q4 2020 results will include a non-cash impairment charge that it says reflects the impact of the COVID-19 pandemic and the postponement of productions during 2020, and mainly comprises goodwill arising from the original acquisition of the companies.
Approximately SEK 620 million of the charges, related to non-scripted production, branded entertainment and events businesses, will be reported within income from discontinued operations, and approximately SEK 280 million, related to the NENT Studios UK distribution business, will be reported within continuing operations as items affecting comparability.
NENT Group announced in January 2020 that it was disposing of its non-scripted production, branded entertainment and events businesses and then, in December, that its NENT Studios UK distribution business, formerly known as DRG, would be sold.
Anders Jensen, NENT Group president & CEO, said: “The disposal of the majority of our Studios businesses is an important step in optimising our portfolio to support our group strategy to focus on the expansion of our Viaplay streaming service. This non-cash impairment reflects our prudent approach to the goodwill value that we have carried in our balance sheet for several years and the recent impact of the Coronavirus pandemic on these businesses. The disposal processes are progressing well, and we have received healthy levels of interest from potential buyers that are in line with our expectations.”
ICYMI: Amazon set for US$1 billion NFL streaming deal digitaltveurope.com/2021/03/05/ama… https://t.co/v8pAI05Ujn
05 March 2021 @ 21:00:00 UTC
ICYMI: Digital TV Europe is excited to announce the release of our 2021 Industry Survey!
Thank you to our sponsors… twitter.com/i/web/status/1…
05 March 2021 @ 19:00:02 UTC
DTVE: the week in view – The live-streaming revolution digitaltveurope.com/comment/the-li… https://t.co/pt7qxb6Ul7
05 March 2021 @ 18:32:30 UTC
Vodafone Portugal gets Gametoon in renewed SPI/FilmBox deal digitaltveurope.com/2021/03/05/vod… https://t.co/I0gFmgtOFb
05 March 2021 @ 18:00:00 UTC