Berenberg


ITV position set to worsen, say analysts

UK commercial broadcaster ITV’s performance looks set to worsen as a result of a Brexit-related economic slowdown and increased costs related to next year’s football World Cup, according to an analysis by Berenberg. According to analysts Sarah Simon and Alastair Reid, ITV is likely to face a continued deterioration in the media buyer outlook for […]

ITV outlook darkens as Brexit anxiety kicks in

The outlook for ITV has deteriorated significantly as advertisers pull back on spending amid anxiety about Brexit, according to analysts at Berenberg. According to the German investment bank’s analysts, spot net advertising revenue for ITV looks set to fall by 8% in Q1, down from an earlier prognosis of a 3-4% decline. “Despite bullish headlines […]

Vivendi continues hostile Mediaset stake build

Vivendi is continuing its hostile bid to acquire a significant stake in Mediaset. The French media giant announced yesterday that it had now passed the 20% threshold of ownership in the Italian broadcaster. Industry observers have been taken by surprise by the speed with which Vivendi has upped its stake in Mediaset, and the French […]

Fox deal price ‘alarms’ Sky shareholders

Shareholders in Sky could revolt against the deal that will see the European satcaster come under full control of Rupert Murdoch’s 21st Century Fox. According to various reports over the weekend, shareholders are concerned Sky management accepted the approach to sell Fox the 61% of the business it doesn’t own without consultation. Sky’s share price had […]

Closing pay TV ‘worst option’ for Mediaset

Closing Mediaset Premium would be the worst of the choices on offer to the Italian broadcaster, but the status quo is not an option for Mediaset either, according to a report by financial analysts at Berenberg. Having previously worked on the assumption that a fresh deal between Mediaset and Vivendi would ultimately be agreed, Berenberg is now basing […]

Sky Germany, Italy will ‘always trail UK’

Despite Sky’s bullish assumptions about the potential for pay TV growth in Germany and Italy, neither market “will ever be as profitable or successful as in the UK because the market structure in those two territories is different”, according to an analyst note by Berenberg. Issuing a ‘sell’ recommendation on Sky, Berenberg said that consensus […]

Analysis: Will ITV get its way on UK retransmission fees?

ITV says the wider industry will back its aggressive to push to get the UK’s pay TV platforms to adopt a system similar to the US and pay to carry the territory’s terrestrial broadcasters, but analysts have suggested the fight will not be an easy one, reports Jesse Whittock. ITV CEO Adam Crozier was bullish […]

ITV remains a takeover target, say analysts

ITV will remain a takeover target and speculation about a sale will drive its share price ahead of any deal for the UK commercial broadcaster, according to analysts. In the wake of interim results reported this week, investment bank Credit Suisse issued a note on ITV in which it said the broadcaster’s performance was solid, […]