Latest news with #TalkTalk
Telegraph
3 days ago
- Business
- Telegraph
TalkTalk in row with Sky over fees as it battles customer exodus
TalkTalk is withholding millions of pounds from Sky as the struggling broadband provider battles an exodus of customers. The Telegraph has learnt that TalkTalk has been locked in a contractual dispute with Sky for a number of months over fees owed to the media giant. The dispute is understood to relate to Sky 's streaming service Now, which TalkTalk previously offered to its television customers as part of a bundled package with a single bill. The broadband company began phasing out this offering at the end of the last year. Sources close to TalkTalk insisted the dispute over volumes reflected changing viewing habits. The company also recently scrapped the option of including Netflix in its television packages. But it comes amid concerns about TalkTalk's finances as the broadband company grapples with large numbers of customers leaving. A source at one supplier said there was 'significant concern' about the company's ability to pay its bills. TalkTalk, which was founded by Sir Charles Dunstone, said it did not recognise this description of its finances. Suppliers squeezed TalkTalk's biggest supplier is Openreach, BT's network arm, which provides the underlying broadband connection for most of its customers. It is understood to be closely monitoring TalkTalk and its monthly payments. Suppliers to TalkTalk have previously been squeezed as the company struggled to shore up its finances. In 2023, the company extended its credit terms with some suppliers to as much as 300 days, while it has also made use of supply chain financing, which allows suppliers to obtain earlier payments via the company's bank. Companies that have faced late payments include The&Partnership, the advertising agency founded by Johnny Hornby, who also co-founded the Hawkstone beer brand with Jeremy Clarkson. Hornby is a personal friend of Sir Charles. While supplier terms are understood to have returned to normal, TalkTalk is facing fresh pressure on its top line. The company shed more than 400,000 customers in the year to February, taking its total to 3.2m. Customer losses follow heavy cost-cutting at the company, which has reduced marketing and customer acquisition costs by £50m. TalkTalk, which has traditionally been known as a discount broadband provider, is also facing tougher competition from a wave of challenger 'alt-net' firms that offer full-fibre services at cut-price rates. The shrinking customer base led to a 7pc fall in revenues to £1.4bn in 2024. This figure is forecast to drop further in the coming year. Meanwhile, TalkTalk slashed about 350 jobs last year, with further cuts expected in the coming year as the company prepares to roll out new customer service software from Octopus-owned Kraken. The figures underscore the continued pressure on TalkTalk's finances after it was rescued from collapse through an 11th-hour bailout. Sir Charles, TalkTalk's executive chairman, and other shareholders were forced to pump £235m into the company to stave off a looming debt default. The deal, which has given investment firm Ares significant control over TalkTalk, secured extensions to maturity deadlines covering about £1.2bn of debt. Looking for a buyer TalkTalk burnt through £285m last year, more than offsetting its emergency cash injection as it scrambled to pay back suppliers. The company is also still facing eye-watering debt costs. The company is now looking for a buyer for all or part of the business after breaking itself up into three divisions in 2023. It was previously in talks with Australian investment firm Macquarie about the sale of a stake in its wholesale unit for up to £500m, but a deal never materialised. Analysts have warned that the darkening financial outlook has made the prospect of dealmaking less likely. TalkTalk has said it plans to relaunch its offering to customers and will make further cost cuts as it shifts its customer base away from ageing copper networks to full fibre.
Telegraph
22-05-2025
- Business
- Telegraph
BT loses hundreds of thousands of customers to cheaper rivals
Allison Kirkby, the BT chief executive, said: 'We're basically assuming that the alt-nets will continue to be funded and that TalkTalk will continue to selectively invest in maintaining its customer base.' Karen Egan, at Enders Analysis, said: 'Openreach, like the other established players, are suffering line losses as a consequence of the alt-net fibre goldrush, and TalkTalk customer declines. 'It makes things tough for now but the free cashflow recovery story is not at risk and the line losses should moderate as the alt-nets no longer have the funding to expand their networks.' Despite the customer losses, BT said it had expanded its full-fibre network by a record 4.3m homes last year, taking its total footprint to more than 18m. The company has now raised its target to hit 5m homes in the coming financial year, with the ultimate aim of reaching 25m by the end of 2026. Overall, BT's revenues dipped 2pc last year to £20.4bn, which it blamed on tough trading in its international division and weaker handset sales. Pre-tax profits rose to £1.3bn as the business benefitted from cost-cutting. 'We're well ahead of the rest' The telecoms giant has now carved out its international business and Ms Kirkby said she was open to all options, including a potential joint venture. Meanwhile, BT is also facing fierce new competition in the mobile market as Vodafone and Three prepare to combine in a £15bn mega-merger. The newly combined company will usurp BT's EE as the UK's largest mobile network operator. Ms Kirkby insisted that she was not concerned about the new rival, saying: 'We're well ahead of the rest, so we don't feel the need to change our current plans.' The BT chief executive, who took over the job at the beginning of last year, has been looking to refocus the telecoms giant on its core telecoms operations in the UK. BT is reportedly closing in on a deal to sell its 50pc stake in TNT Sports to joint venture partner Warner Bros Discovery, ending its foray into sports broadcasting after more than a venture. Ms Kirkby's progress has been closely overseen by Sunil Mittal, the Indian telecoms billionaire who became BT's largest shareholder last year. The pair are scheduled to meet to discuss strategy in the next few weeks.
Yahoo
22-05-2025
- Business
- Yahoo
BT loses hundreds of thousands of customers to cheaper rivals
BT has suffered an exodus of almost a quarter of a million broadband customers as it battles growing competition from cheaper rivals. The number of customers on BT's Openreach network slumped by 243,000 in the first three months of the year, marking a record quarterly loss and taking the total annual decline to 828,000. It comes as a raft of smaller rivals, known as 'alt nets', expand their own full-fibre networks and seek to entice customers with cut-price offers. The former telecoms monopoly is also feeling the impact of troubles at TalkTalk, the struggling broadband provider that uses the Openreach network. TalkTalk lost around 100,000 customers a quarter last year as it cut costs to shore up its finances. This followed an emergency bailout by Sir Charles Dunstone, the founder. BT warned it expects that broadband losses will continue at the same rate in the coming year, with its share price falling by 3pc in early trading. Allison Kirkby, the BT chief executive, said: 'We're basically assuming that the alt-nets will continue to be funded and that TalkTalk will continue to selectively invest in maintaining its customer base.' Karen Egan, at Enders Analysis, said: 'Openreach, like the other established players, are suffering line losses as a consequence of the alt-net fibre goldrush, and TalkTalk customer declines. 'It makes things tough for now but the free cashflow recovery story is not at risk and the line losses should moderate as the alt-nets no longer have the funding to expand their networks.' Despite the customer losses, BT said it had expanded its full-fibre network by a record 4.3m homes last year, taking its total footprint to more than 18m. The company has now raised its target to hit 5m homes in the coming financial year, with the ultimate aim of reaching 25m by the end of 2026. Overall, BT's revenues dipped 2pc last year to £20.4bn, which it blamed on tough trading in its international division and weaker handset sales. Pre-tax profits rose to £1.3bn as the business benefitted from cost-cutting. The telecoms giant has now carved out its international business and Ms Kirkby said she was open to all options, including a potential joint venture. Meanwhile, BT is also facing fierce new competition in the mobile market as Vodafone and Three prepare to combine in a £15bn mega-merger. The newly combined company will usurp BT's EE as the UK's largest mobile network operator. Ms Kirkby insisted that she was not concerned about the new rival, saying: 'We're well ahead of the rest, so we don't feel the need to change our current plans.' The BT chief executive, who took over the job at the beginning of last year, has been looking to refocus the telecoms giant on its core telecoms operations in the UK. BT is reportedly closing in on a deal to sell its 50pc stake in TNT Sports to joint venture partner Warner Bros Discovery, ending its foray into sports broadcasting after more than a venture. Ms Kirkby's progress has been closely overseen by Sunil Mittal, the Indian telecoms billionaire who became BT's largest shareholder last year. The pair are scheduled to meet to discuss strategy in the next few weeks. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
NICE Announces Interactions International 2025, Accelerating Global Customer Service Automation Adoption – Featuring Sir Tim Berners-Lee, Jonny Wilkinson and the Kaiser Chiefs
During the event in London attendees will hear how leading broadband provider TalkTalk is leveraging CXone Mpower to drive impactful business outcomes HOBOKEN, N.J., May 19, 2025--(BUSINESS WIRE)--NICE (Nasdaq: NICE) is excited to announce Interactions International 2025, the premier customer experience (CX) event of the year, taking place July 1-2, 2025, at Allianz Stadium in Twickenham, London. This two-day conference will unite 1,000 industry leaders, customer experience (CX) professionals, experts and partners to explore the AI-powered innovations shaping the future of customer service. To register for Interactions International 2025, or to learn more click here. As AI and automation continue to transform customer service, Interactions International 2025 will be the ultimate destination to explore NICE's most advanced innovations in AI-driven orchestration, customer service automation, and agentic workforce augmentation. Across two action-packed days, attendees can experience the future of customer service with 25+ interactive demos—including the game-changing CXone Mpower Orchestrator—as well as share best practices, exchange ideas, and seize this career-defining AI opportunity. This year's event boasts an exceptional lineup of speakers, including Sir Tim Berners-Lee, inventor of the World Wide Web and one of TIME magazine's "100 Most Important People of the 20th Century", as well as former rugby legend and World Cup hero, Jonny Wilkinson. Attendees will also hear from TalkTalk, a NICE CXone Mpower customer driving real business value, along with visionary keynotes from NICE CEO Scott Russell and NICE President CX Barry Cooper as they unveil the next chapter of AI-powered customer service. Kicking off on July 1, the event begins with hands-on EDU Training sessions to help NICE users unlock the full potential of AI and automation to uncover immediate results. Attendees can also dive into dynamic breakout sessions across four focused tracks, offering practical insights on implementing and scaling AI-driven CX strategies. Learn directly from top brands like Openreach, DPG Media, SSE Airtricity, Halfords, and many more. The conference will close with a legendary "Party-on-the-Pitch", featuring a live performance by the Kaiser Chiefs. Darren Rushworth, President, NICE International, will deliver the opening keynote address at the conference. "Our commitment to AI-powered innovation has never been stronger. At Interactions International 2025, we will present groundbreaking advancements that empower organizations across EMEA and APAC to deliver proactive, personalized and automated customer service experiences at scale – and seize the once-in-a-career opportunity ahead of them." About NICE With NICE (Nasdaq: NICE), it's never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world's #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Rushworth, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the "Company"). In some cases, such forward-looking statements can be identified by terms such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," "estimate," or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, such as the impact of conflicts in the Middle East that may disrupt our business and the global economy; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law. View source version on Contacts Corporate Media Contact Christopher Irwin-Dudek, +1 201 561 4442, media@ ETInvestors Marty Cohen, +1 551 256 5354, ir@ ETOmri Arens, +972 3 763 0127, ir@ CET Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17-05-2025
- Business
- Bloomberg
Private Credit Strains Are Keeping Advisors Busy
Welcome to The Brink. I'm Edward Clark, a reporter in London, where I talked to restructuring advisers dealing with a wave of private credit distress. We also have news on Saks and TalkTalk. Follow this link to subscribe. Send us feedback and tips at debtnews@ Private credit funds are increasingly turning to restructuring advisers to sort out their problem loans, suggesting that while the hot asset class is still raking in capital, there are risks simmering under the surface.
