Latest news with #spinoff
Yahoo
16 hours ago
- Business
- Yahoo
Virgin Media O2's plan to spin off infrastructure is scrapped, Telefonica CEO says
MADRID (Reuters) -The plan to spin off joint venture Virgin Media O2's fixed network in Britain had been scrapped, Telefonica's Chief Executive Marc Murtra told Reuters on Wednesday. "The project is stopped," Murtra said, clarifying his comment made during a call with analysts that the "plan is not on pause". Virgin Media O2, which is jointly owned by Liberty Global and Telefonica, had said last year it wanted to spin off its fixed network into a subsidiary called NetCo. Virgin Media said at the time the change would underpin its plan to upgrade all of its customers to fibre. The move would create a platform for wholesale opportunities, it said. Reports last year said the companies were planning to sell a 20-40% stake in the network as part of the spinoff. 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
CNA
16 hours ago
- Business
- CNA
Virgin Media O2's plan to spin off infrastructure is scrapped, Telefonica CEO says
MADRID :The plan to spin off joint venture Virgin Media O2's fixed network in Britain had been scrapped, Telefonica's Chief Executive Marc Murtra told Reuters on Wednesday. "The project is stopped," Murtra said, clarifying his comment made during a call with analysts that the "plan is not on pause". Virgin Media O2, which is jointly owned by Liberty Global and Telefonica, had said last year it wanted to spin off its fixed network into a subsidiary called NetCo. Virgin Media said at the time the change would underpin its plan to upgrade all of its customers to fibre. The move would create a platform for wholesale opportunities, it said. Reports last year said the companies were planning to sell a 20-40 per cent stake in the network as part of the spinoff.
Reuters
16 hours ago
- Business
- Reuters
Virgin Media O2's plan to spin off infrastructure is scrapped, Telefonica CEO says
MADRID, July 30 (Reuters) - The plan to spin off joint venture Virgin Media O2's fixed network in Britain had been scrapped, Telefonica's ( opens new tab Chief Executive Marc Murtra told Reuters on Wednesday. "The project is stopped," Murtra said, clarifying his comment made during a call with analysts that the "plan is not on pause". Virgin Media O2, which is jointly owned by Liberty Global (LBTYA.O), opens new tab and Telefonica, had said last year it wanted to spin off its fixed network into a subsidiary called NetCo. Virgin Media said at the time the change would underpin its plan to upgrade all of its customers to fibre. The move would create a platform for wholesale opportunities, it said. Reports last year said the companies were planning to sell a 20-40% stake in the network as part of the spinoff.
Geek Tyrant
5 days ago
- Entertainment
- Geek Tyrant
THE WALKING DEAD: DARYL DIXON Renewed for Fourth and Final Season — GeekTyrant
AMC announced at San Diego Comic-Con that The Walking Dead: Daryl Dixon will return for a fourth season, but it will also be the last. While Daryl's next chapter will take him to Spain, this will mark the end of this particular spinoff story… at least for now. The announcement came during the show's Hall H panel, where Norman Reedus (Daryl) and Melissa McBride (Carol) appeared alongside showrunner David Zabel, executive producer Scott M. Gimple, and longtime Walking Dead legend Greg Nicotero . Season 3 is set to premiere September 7, and the final season begins production this month in Spain, even before fans have seen Season 3 hit screens. Season 3 of Daryl Dixon picks up with Daryl and Carol continuing their long journey back home and to the people they love. But getting there won't be easy. As AMC teases, their path 'takes them farther astray, leading them through distant lands with ever-changing and unfamiliar conditions as they witness the various effects of the Walker apocalypse.' The upcoming eight-episode final season will be filmed across some stunning Spanish locations including Madrid, Bilbao, Galicia, Andalucía, the Segovia region, and Toledo. For Reedus, this announcement is bittersweet, but he promises that the finale will be something special: 'Daryl Dixon has been an incredible journey. I thank each and every fan who has joined us on this ride. It's been a privilege to build this story for these characters, and we have so much gratitude for how it's been embraced. 'Your love and support have made every moment worth it. This finale isn't just an ending; it's a celebration of what we've all shared together. Keep carrying that love forward – Daryl's journey is far from over.' Now, Daryl might be closing this chapter, but his story in The Walking Dead Universe isn't done yet. Could another series or movie be in the works? Never say never. Melissa McBride says she is thrilled to keep playing Carol alongside Daryl: 'It has been the thrill of a lifetime to shoot this part of Daryl and Carol's adventure together in Europe and I keep coming back for more of these two characters. 'There is still so much story left to tell and so much for the fans to look forward to. I'm going to revel in the moments as they come and am excited for the fans to see what we have been working on in these incredible locations.' AMC's Dan McDermott talked about just how big an impact these characters have had on TV history: 'Across two extraordinary series spanning almost two decades – Norman and Melissa have given life to two of the most iconic characters in the history of television. 'Daryl and Carol have taken fans on an unforgettable and intensely human journey of challenge, survival, hope and friendship, and the response from fans, from the very first moments of The Walking Dead, has been remarkable. 'We can't wait to share the upcoming third season of Daryl this fall and to begin production on this fourth and final season in Spain. Whatever awaits these two beloved characters, we know The Walking Dead Universe is a timeless franchise that holds endless possibilities for story and characters new and old.' This may be the end of Daryl Dixon as a series, but AMC isn't slowing down. Between Dead City , The Ones Who Live , and now this finale, the Walking Dead franchise continues to evolve. And with Reedus hinting that Daryl's journey is 'far from over,' fans have good reason to hope for more.
CTV News
21-07-2025
- Business
- CTV News
Kraft Heinz seeks to revive old brands by undoing 2015 mega-merger
The Kraft logo appears outside of the headquarters on in Northfield, Ill. on Wednesday, March 25, 2015. (AP / Nam Y. Huh) Kraft Heinz's potential spinoff of slower-growing brands such as Velveeta cheese is a risky last-ditch effort to boost returns by reversing its unsuccessful decade-old merger. The Chicago- and Pittsburgh-based foodmaker is studying a potential spinoff of a large chunk of its grocery business, including many Kraft products, into a new entity, a source said on July 11, confirming a report in the Wall Street Journal. That entity could be valued at up to US$20 billion on its own, which would make it the biggest deal in consumer goods so far this year. The company declined to comment on the move. Shares in the food maker have lost about two-thirds of their value since Kraft and H.J. Heinz merged in 2015 in a deal backed by Warren Buffet's Berkshire Hathaway that was aimed at cutting costs and growing the brands internationally. U.S. consumers, however, have been spending less on increasingly expensive name-brand packaged food after the pandemic. In addition, Kraft Heinz's convenience-oriented products like its Lunchables meal kit face scrutiny in the United States, its biggest market, amid the rise of the Make America Healthy Again or MAHA social movement led by U.S. Health Secretary Robert F. Kennedy Jr. The $33.3 billion market-cap company said in May that it was 'evaluating potential strategic transactions to unlock shareholder value' as executives from Berkshire Hathaway left its board, most likely after losing faith in the food maker, bankers said. The potential move, yet to be confirmed by Kraft Heinz, would likely undo the approximately $45 billion 2015 merger, though the details of how the company's roughly 200 brands would be split up are unclear. It also is not a sure bet for investors, because they would reap the most value only if acquirers step in to buy either of the new companies, analysts said. Kraft Heinz's condiments division, led by ketchup brand Heinz and Philadelphia cream cheese, posted $11.4 billion in sales last year and has room to grow internationally. On a standalone basis, it would likely command a higher multiple than what the overall company is currently trading at, making it more valuable, analysts and bankers said. The rest of Kraft Heinz's products - with sales of $14.5 billion from legacy brands such as Oscar Mayer which face competition from cheaper private-label options - would likely be valued in line with the whole company, which currently trades just below nine times its earnings. Kraft Heinz did not immediately return a request for comment. Risky path This path is dicey because the separation alone may create only a small benefit for investors, according to analysts and investment bankers. Bigger returns hinge on Kraft Heinz eventually finding a buyer - and a premium - for either of its two businesses. 'It doesn't look like there's a whole lot of upside,' said Bank of America analyst Peter Galbo. 'It really is reliant on an acquisition down the line.' Kraft Heinz's board and management may have looked at the breakup of the Kellogg Co as a success story they could replicate, investment bankers said. Earlier this month, European candy maker Ferrero agreed to acquire Kellogg Co's cereal business, WK Kellogg KLG.N, for $3.1 billion. Last year, Mars scooped up Kellogg Co's other business, Pringles maker Kellanova K.N, for about $36 billion. Possible acquirers for the condiments business could be spice and hot sauce-maker McCormick Co MKC.N, Unilever ULVR.L or Nestle NESN.S, investment bankers said. McCormick declined to comment. Unilever and Nestle did not respond to requests for comment. The slower-growing Kraft-oriented business could meanwhile garner interest from another company that wants to build up its clout with grocers like Walmart WMT.N and KrogerKR.N, said Dave Wagner, a portfolio manager at Aptus Capital, which holds Kraft Heinz shares in an exchange-traded fund. But Wagner said finding buyers in a challenged segment may not be easy. Sales across the entire food maker fell 3% in 2024, and the company slashed its forecasts for sales and profit for the rest of this year. 'If you keep the company as it is now or split it, both are going to have some type of black eye,' Wagner said. 'They probably wouldn't be tier one acquisition targets.' (Reporting by Jessica DiNapoli and Abigail Summerville in New York. Editing by Lisa Jucca and Matthew Lewis)
