Brexit hits Discovery international business

Discovery Communications has revealed that the Brexit vote has slowed down its international business, but has committed to the UK market. The US firm yesterday reported quarterly and half year results that showed a decline in revenue and profit  from its international division, which accounts for almost half of its overall business. The UK’s decision to […]

UK’s creative industry ‘can lead post-Brexit growth’

The UK’s creative businesses can lead economic growth in a post-Brexit UK, according to the government and industry group the Creative Industries Council. It said the prospects for the country’s creative industries remain strong after the recent Brexit vote to leave the European Union. It has outlined an ambitious plan to grow the country’s exports […]

UK media reacts to Brexit

Industry groups and companies are continuing to react to, and weigh the impact of, the UK’s decision to leave the European Union. With the two main political parties in the UK involved in leadership battles and sterling and share indexes taking a post-Brexit hit, the media and creative industries have reacted to last Thursday’s vote. […]

Analysts mark down Liberty Global amid Brexit fears

Analysts have marked down Liberty Global shares as a result of the Brexit vote in the UK, citing the risk of UK recession and the diminished likelihood of some sort of deal with Vodafone. Pivotal Research Group reduced its year-end target for Liberty’s stock from US$50 to US$41 immediately after the result of the referendum […]

Discovery hedges against Brexit impact

US-listed Discovery Communications has said its programme of currency hedging will insulate it from the financial impact of last week’s Brexit vote. The value of sterling fell sharply in the wake of UK voter’s decision to take the country out of the European Union and huge global media companies including Discovery are hoping they have […]

UK-based European channels face uncertainty after Brexit vote

UK-licensed European channels face a period of uncertainty after last night’s Brexit vote, according to industry sources. Hundreds of networks within the European Union are licensed out of the UK by communications regulator Ofcom. With UK voters opting to leave the EU, the status of these licences, and how the channels will ensure their licences […]

Brexit will ‘blow up’ co-production foundations

The foundations underpinning European co-productions have been “blown up” by the UK’s decision to leave the European Union, an industry body is warning. The TV industry has been plunged into uncertainty after the British public voted to leave the EU, with Prime Minister David Cameron subsequently resigning. Various companies and individuals are already on the […]

TV industry rejects Brexit

The TV industry is overwhelmingly backing Great Britain to remain in Europe, as the country’s public today vote on whether or not to leave the European Union. Numerous other industry figures have come out in support of remaining. These include Sony Pictures Television’s format chief Wayne Garvie, former BBC director of television Danny Cohen and […]

Liberty Global may pull back on UK investment in case of Brexit

Liberty Global will likely hold back on any further investment in the UK and deploy its capital elsewhere in the event of a Brexit vote next week, according to president and CEO Mike Fries. Liberty shareholders yesterday approved a £700,000 (€880,000) donation to the Remain campaign. Fries told the Financial Times that a leave vote […]

ZenithOptimedia: UK risks £1bn ad loss post Brexit

Exiting the European Union could cost the UK £1 billion in lost advertising revenues, according to data from media agency ZenithOptimedia. It said that while the short term effect would be minimal, ‘Brexit’ could cost the UK £70 million in advertising spend growth annually, equating to £1 billion by 2030. It did not break out […]