CU Trade Group Voices Opposition to Proposed FHLB Requirements

first_img in Daily Dose, Government, Headlines, News Share Credit Unions Federal Home Loan Banks FHFA NAFCU 2015-01-13 Tory Barringer January 13, 2015 470 Views center_img A national trade group representing credit unions has come out against a recent proposal to revise requirements for Federal Home Loan Bank (FHLB) membership.In a comment letter addressed to the Federal Housing Finance Agency’s (FHFA) general counsel, Alicia Nealon, director of regulatory affairs for the National Association of Federal Credit Unions (NAFCU), voiced the association’s opposition to the proposal, which she says would “disenfranchise over 1 million credit union member-owners.””Given the onerous nature of this proposal on credit unions, the lack of a Congressional mandate for ‘ongoing’ FHLB membership requirements and the current requirements that already exist for FHLB members to demonstrate a commitment to housing finance, NAFCU must oppose the proposed rule and urge its withdrawal,” Nealon wrote.NAFCU’s complaint stems from a provision of the proposed rule that would require FHLB members and applicants to keep 1 percent of assets in home mortgage loans. Current members would also be required to hold at least 10 percent of assets in residential mortgage loans on an ongoing basis as opposed to just at the time of application, as the current rule requires.In her comment letter, Nealon says the membership requirements fail to take into account a credit union’s asset size or experience level. She also says NAFCU is concerned that the standards (particularly the 1 percent requirement) don’t take into account the kinds of fluctuations that can happen in portfolios due to changes in economic conditions.As an alternative, the group suggests that the agency allow loans sold in the secondary market to count toward an institution’s 1 percent threshold.Also of concern to NAFCU is FHFA’s proposal to determine if FHLB members meet eligibility standards on a yearly basis and to terminate any members that fail to comply after a two-year grace period. The group instead suggests a five-year probationary period for lenders to get back up to standard. CU Trade Group Voices Opposition to Proposed FHLB Requirementslast_img read more

Scarce Inventory Weighs Heavy on the Mortgage Industry

first_img Share in Daily Dose, Data, Headlines, News Inventory has been a ongoing issue in the housing market despite positive indicators from home sales and prices coming out of the crisis.The March 2016 RE/MAX National Housing Report of 53 metros found that the number of homes for sale in February was 1.3 percent lower than in January and 13.3 percent lower than in February 2015.According to the data, on a year-over-year basis in 2015, the average loss of inventory was 12.2 percent. The months supply of inventory was 4.0 in February, down from 4.6 percent in January and 4.7 supply in February 2015, where a six months supply indicates a balanced market between buyers and sellers.RE/MAX said that Burlington, Vermont had the highest inventory in February at 11.1. Meanwhile, seven metros had a supply less than 2 months: Denver, Colorado (1.1), San Francisco, California (1.2), Seattle, Washington (1.2), Portland, Oregon (1.4), Dallas-Ft. Worth, Texas (1.8), San Diego, California (1.8), and Omaha, Nebraska (1.9).“So far in 2016, January and February have both seen home sales at a pace higher than one year ago, and last year was one of the best our industry has seen in quite some time,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. Consumers are benefiting from price increases that have been moderating, but many will still be dealing with an inventory lower than we’d like to see. Serious homebuyers who choose to work with an experienced agent will have a much easier time navigating this market,”Bob Walters, Quicken Loans, Chief Economist added, “A lack of inventory continues to affect home values, as eager buyers compete for a small selection of homes. Home prices continue their long march back from the big price drops experienced in the financial crash. As more and more Americans gain equity, this increases the number of homeowners who are financially able to sell their home and buy another one. We’re seeing the benefits of this virtuous cycle in rising home prices, which are also being greatly aided by historically low mortgage rates.”The report showed that in the 53 metro areas surveyed in February, the average number of home sales was 4.8 percent higher year-over-year and was 5.8 percent higher than the previous month. The average home price for all homes sold in February was $198,000, down 1.0 percent from January. The median sales price has now risen for 49 consecutive months on a year-over-year basis. “Although price increases have been moderating over the last few months, low inventory supply continues to be the most significant factor pressuring prices,” RE/MAX said.Click here to view the full report. March 17, 2016 493 Views center_img Inventory Mortgage Industry RE/MAX 2016-03-17 Staff Writer Scarce Inventory Weighs Heavy on the Mortgage Industrylast_img read more

earlybird specialsEvergreen Tours

first_imgearlybird specialsEvergreen Tours Evergreen’s latest Canada brochure – for 2019/20 – includes itineraries ranging from fourteen to twenty five days, with earlybird* deals ending 30 June 2019, or until sold out.“Now it is the time to secure the best prices for our remaining 2019 departures and our early release 2020 departures”, said Mr Angus Crichton, Director of Sales, Marketing and Product for Evergreen Cruises & Tours. “Evergreen continues to offer the best value Canada and Alaska product on the market and our 2020 pricing and deals in this brochure will be the best offered in the coming season – along with our unbeatable value for money and quality service commitment”.*Earlybird deals include:· 2 for 1 airfare including taxes on journeys of 18 days or longer;· Solo travellers get 50% off economy class airfares on journeys of 18 days or longer $950pp discount on journeys of 18 days or longer and $500pp on 14 day itineraries if the flight deal is not taken· Save up to $800 per couple with Evergreen’s Early Payment Discountslast_img read more

Former CBC boss withheld recapitalisation report from new government

first_imgBy George PsyllidesFormer Central Bank governor Panicos Demetriades withheld a report suggesting the island’s banks needed less money to recapitalise because the issue was too technical for top officials to understand, the New York Times reported on Friday.According to the paper, a study carried out by investment managers BlackRock had found that the lenders’ needs were €1 billion less than what bond giant Pimco’s estimate of €8.8 billion.It was this estimate that eventually led international lenders to demand that banks recapitalise by seizing deposits.There were numerous reports in the local media at the time suggesting that the PIMCO findings had been inflated, though the BlackRock study had been kept secret, even from the island’s new political leadership, which was trying to negotiate a bailout deal.Demetriades rejected the claim that the forecasts were inflated.“The assumptions relating to the Pimco adverse scenario have unfortunately been surpassed,” he told the New York Times. However, it is understood that PIMCO’s adverse scenario did not include closure of a bank and deposit seizure, which made the situation worse.As to why he did not tell the new government about the BlackRock study, Demetriades, according to the New York Times, suggested the issue was too technical for top officials to understand and that the report was not in its complete form when crisis negotiations began in March 2013.Former finance minister, Michalis Sarris, who led the bailout talks, said they knew nothing about the report, which should have been on the table if it indicated that banks needed less money.Quoting BlackRocks report, the New York Times said PIMCO analysts gave little chance that troubled loans would recover over time and were very aggressive in marking down the value of real estate collateral.“BlackRock also criticised Pimco’s lack of transparency,” the paper said.Demetriades was forced to bring in BlackRock after pressure from bankers and politicians amid reports that the estimates were excessive.When PIMCO delivered its report on February 1, 2013, Demetriades wrote to Eric Mogelof, the executive who oversaw the project, saying that the estimate “appears to be extracted from a black box (input information and get output without knowing internal process) calculation.”Mogelof responded that the assumptions came directly from Demetriades’ team as well as the country’s creditors.The PIMCO report was also used to justify selling the Cypriot banks’ Greek operations to Greece’s “nearly bankrupt Piraeus Bank” at a rock-bottom price. A few months later, Piraeus reported a 3.5 billion profit and “is now Greece’s largest domestic bank and hedge fund darling.”You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoKelley Blue BookYou Won’t Believe How Affordable These Ford Car Models AreKelley Blue BookUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

Leonard volunteers for Habitat for Humanity of Clinton County

first_img03Sep Leonard volunteers for Habitat for Humanity of Clinton County Categories: Leonard News,Leonard Photos,News Rep. Tom Leonard, R-DeWitt Township (front row, center), joins other volunteers at the latest Habitat for Humanity of Clinton County construction site, located in St. Johns.State Rep. Tom Leonard recently joined other local volunteers in working with Habitat for Humanity of Clinton County on its latest home in St. Johns.“It was an honor to work with Habitat for Humanity and help build a home for a local family in need,” said Leonard, R-DeWitt Township. “The work that Habitat is doing throughout Clinton County is incredible, and it has provided several families in our community with a safe, affordable house and a brighter future at the same time. I encourage anyone looking to swing a hammer for a good cause to volunteer with this worthwhile organization.”Currently under construction in St. Johns, the newest Habitat home is sponsored by Pilgrim United Methodist Church, First United Methodist Church and St. Joseph Catholic Church, employees of the city of St. Johns, Turning Point Youth Center, St. Johns Rotary Club and St. Johns Kiwanis Club. Once completed, the home will be the ninth home built by Habitat for Humanity of Clinton County since 2000.“It is amazing to see our community come together like this to help one of our own,” Leonard said. “None of this would be possible without Habitat for Humanity, its sponsors and its volunteers.”###last_img read more

Rep Iden introduces bill to enhance cybersecurity

first_img State Rep. Brandt Iden of Oshtemo today introduced legislation to allow the Michigan Cyber Civilian Corps, an all-volunteer force, to provide cybersecurity services and to respond to cyberattacks.This bill gives the Michigan Cyber Civilian Corps the legal protection it needs to assist schools, municipalities, nonprofits and private businesses.“Every day, the State of Michigan detects tens of thousands of cyberattacks,” said Rep. Iden. “All businesses and governments can be targets.”“Due to these threats, I have put forth legislation to enhance protections and create a structure for our cyber defenders to help protect our citizens.”Michigan is one of the few states that has an all-volunteer corps and has been approached by other states for cybersecurity guidance.House Bill 4508 remains under consideration by the House of Communications and Technology Committee.### 10May Rep. Iden introduces bill to enhance cyber-security Categories: Iden Newslast_img read more

VanderWall Overriding veto will provide sales tax relief Michigan families deserve

first_img17Jan VanderWall: Overriding veto will provide sales tax relief Michigan families deserve Categories: VanderWall News State Rep. Curt VanderWall today voted to accelerate sales tax relief for Michigan families buying motor vehicles by overriding a gubernatorial veto with his House colleagues.The House vote means additional tax relief for people buying cars, trucks and SUVs with a trade-in. Current law calls for phasing in planned sales and use tax deductions on purchases including a trade-in through 2039. With today’s vote, the reductions will be fully implemented a decade earlier.“Any tax relief is great for Michigan’s markets. That’s one of the reasons why I voted in favor of the veto override,” said VanderWall, of Ludington, after the House joined the Senate in overriding a veto of legislation from Gov. Rick Snyder. “The other reason is families across Benzie, Leelanau, Manistee and Mason counties should not have to wait until 2039 to get tax relief on one of the most important investments they make.”The Senate bills overwhelmingly approved by the Legislature were vetoed by the governor in July.The new law speeds reforms approved in 2013, allowing buyers to subtract the value of their trade-ins from the purchase price of a vehicle for sales tax purposes. The accelerated sales tax relief also will apply to boats and recreational vehicles bought with a trade-in.last_img read more

Will Houston after Hurricane Harvey Embrace an Equitable Recovery

first_imgShare21TweetShareEmail21 SharesBy SC National Guard (170831-Z-AH923-083) [Public domain], via Wikimedia CommonsAugust 22, 2018; Texas MonthlyOn August 25, 2017, Hurricane Harvey made landfall. Harvey, a Category-4 hurricane that dumped over 40 inches of rain in the region, killed 68 people and caused $125 billion in property damage. CNBC adds that, “Thirty-six of the deaths were in the low-lying Houston area, where days of torrential rainfall and decades of unchecked development contributed to the flooding of more than 150,000 homes and 300,000 vehicles.”Mimi Schwartz writes in Texas Monthly that, “When the rain began easing up a few days later, the only part of downtown that seemed functional was the George R. Brown Convention Center.” Schwartz adds that, “Houston today can sometimes seem like a city struggling with a massive case of PTSD (post-traumatic stress disorder). When heavy rains are forecast…people think twice about getting in their cars.”Recovery has been slow. Brandon Formby of the Texas Tribune, citing a Kaiser Family Foundation and Episcopal Health Foundation joint report, notes that, “One year after Hurricane Harvey slammed the Texas coast, eight percent of the people impacted by the disaster have not been able to return to their homes [and] 15 percent of the hundreds of thousands of homes damaged by the storm are still unlivable.” Formby adds that report also shows that, “Among black Texans impacted by the storm, 60 percent say they are not getting the help they need. That compares to 40 percent of [Latinx] respondents and 33 percent of white respondents.”According to Charity Navigator, nonprofits raised “$742.6 million in ‘Harvey restricted’ funds from August 2017 to December 2017.” Chris Matthews of the Houston Business Journal notes that the same report indicated that, “An additional $13.7 million was donated more broadly, for ‘disaster/hurricane’ restricted funding…and $17.7 million was donated to be unrestricted in its use.” While nonprofits have been key players—and a few, notably the local Red Cross, faced criticism when they fell short—the federal government remains the dominant player. According to Adriana Navarro of AccuWeather, federal Harvey relief funds distributed in Texas to date exceed $26 billion—more than 30 times the amount distributed by nonprofits.The recovery has upended cultural norms, as the federal role is begrudgingly acknowledged. Houstonians have tended to prefer to raise private dollars. “That works great for [capital campaigns for] hospitals and museums, but it doesn’t work for this. You have to have government action. The dollars are too big, the infrastructure issues too boring. No naming rights,” a resident informed Schwartz.Some important steps have been taken. “I think Harvey is the moment that could be the turning point for Houston,” Dale Morris, director of strategic partnerships for Water Institute for the Gulf, a Louisiana-based nonprofit, told Schwartz. “Something has changed.”Last week, 85 percent of Houston-area voters cast their ballots in favor of a $2.5-billion bond measure to “fund projects that may include buyouts of homes in flood-prone areas, the expansion of local bayous and the construction of additional stormwater detention basins.” For Harris County (population 4.65 million) taxpayers, the cost works out to a modest average of $5 a year per household.Flood control is one matter; helping those who have been dislocated by the storm get back on their feet is another. Presently, the city is deciding how to allocate $1.15 billion in funds from the US Department of Housing and Urban Development (HUD). Tom McCasland, Houston’s director of housing and community development, “wants residents of poor and working-class neighborhoods…to have a voice in how that money is spent, “says Schwartz. Schwartz adds that McCasland “hopes to put in place land trust programs that will limit who can build in certain neighborhoods and what they can charge for homes there, along with a voucher program that helps poor families live in areas with better schools.”Preserving affordable housing is critical. As NPQ reported this week, federal disaster aid, in part because it supports homeowners, can widen the gap between haves and have-nots. Indeed, in Harris County itself, when disaster aid was last distributed, the wealth gap between whites and Blacks grew by $87,000 per household. If low-income communities and communities of color are not protected, similar results could be expected this time.Another challenge is maintaining attention. Disaster recovery, Schwartz notes, takes time, but public attention is often short. “Once the immediate crisis is past, it’s difficult to keep the public invested.” Katie Olse, executive director of the Texas Alliance of Child and Family Services, described this to Governing as the “aftermath of the aftermath.”As NPQ’s Martin Levine noted last September, “After immediate needs have been met and the sense of crisis is past, the storms’ longer-term effects remain, demanding continued resources and attention.” How Houston will do remains to be seen. “One year later, many of those with the fewest resources are still struggling to bounce back from Harvey’s punch,” cautioned Elena Marks, Episcopal Health Foundation president and CEO.—Steve DubbShare21TweetShareEmail21 Shareslast_img read more

VOD technology company SeaChange has reported thir

first_imgVOD technology company SeaChange has reported third quarter revenues of US$53.4 million (€40 million), a 9% year-on-year increase.The company’s software segment contributed the majority of revenues at US$37.6 million, up US$4.4 million, which it attributed to a significant home gateway licensing transaction with a large domestic service provider, higher VOD software revenues from eventIS and increased advertising product revenues from US-based customers.SeaChange’s servers and storage segment saw revenues increase by US$100,000 to US$7.9 million. Revenues from its media services business were US$200,000 lower than the corresponding period a year earlier to US$7.9 million. The decrease in revenues related to lower revenues from customers in the UK and Greece that were partially offset by higher revenues from customers in France, eastern Europe and Latin America.“SeaChange has made good progress in fiscal 2012 toward controlling costs and starting its next phase of growth through emergent multi-screen video opportunities globally with its legacy VOD customers and several new ones,” said Raghu Rau, CEO, SeaChange.  “However, as the company is committed to a software strategy, it will work to increase its overall margins to ensure its long-term ability to address the volume of opportunity and innovate even further for our video service provider customers.  The third quarter results underscore our need to focus sharply on improving financial performance by reducing overall costs and reallocating resources to deliver our new products to drive increased revenues.  During the coming months I’ll report in detail on our organisational initiatives and progress.”last_img read more

European governments must deliver sufficient fundi

first_imgEuropean governments must deliver sufficient funding to ensure that public service broadcasters fulfill their mission based on the principles of universality, diversity and independence, EBU director-general Ingrid Deltenre told a conference in Poland on Friday.Deltenre told attendees at the European Forum for New Ideas in Sopot that public broadcasters had a duty to provide programming for all parts of society. “Make no mistake, if something is free, you are the product: your eyeballs are sold to the advertising industry,” she said.A fellow panelist at the conference, Telewizja Polska chairman Juliusz Braun, said that most of his group’s income was derived from advertising as only a minority of Poles paid the broadcasting licence fee. He urged governments to enforce licence fee collection more effectively to pay for national content.last_img read more

Video transport technology providers Nevion and T

first_imgVideo transport technology providers Nevion and T-VIPS have completed their merger. The combined company will trade under the Nevion name, with Geir Bryn-Jensen as CEO.Former T-VIPS CEO Johnny Dolvik joins as chief strategy officer, while chief operating officer and chief financial officer Janne Morstøl becomes chief product and marketing officer, and chief commercial officer Arnhild Schia continues her role in the new Nevion organization. Existing Nevion management team members Eugene Keane, chief technology officer, Nils Fredriksen, chief financial officer, and Petter Kvaal Djupvik, chief operating officer, will continue in their positions on the new team.last_img

The breakfast will be held from 0900 – 1030 cent

first_imgThe breakfast will be held from 09:00 – 10:30 central European time on Wednesday, May 21 at the Speakers’ Corner in Area 10.1 of the Kölnmesse exhibition centre, Cologne. The US-based Society of Cable Telecommunications Engineers (SCTE) is set to detail new European initiatives and training opportunities at ANGA COM. The non-profit professional association will outline the schemes, which include training opportunities for professionals in European cable engineering and operations, at a breakfast event on Wednesday, May 21 at ANGA COM.SCTE’s president and CEO, Mark Dzuban, will speak at the event, alongside: SCTE’s CTO and senior vice president of engineering, Daniel Howard; the president of SCTE’s central Europe chapter and CEO of Adams Consult, Claus Adams; and the principal analyst of CableLabs’ advanced technology group, L. Alberto Campos.“The rapid evolution of cable telecommunications products and services has increased the need for superior workforce training and certification. SCTE’s alignment with CableLabs, the international cable operator community, and international standards bodies have positioned it to deliver educational resources that are without equal in our industry,” said Adams.The international breakfast event will include a general overview of SCTE’s activities, details of its initiatives in Europe and its training courses and information on advanced engineering training and proactive network maintenance.SCTE is designed to provide technical leadership for the telecoms industry, offering professional development, standards, certification and information. SCTE currently claims nearly 14,000 members from the US and 70 countries worldwide, and more than 3,000 employees of the cable teleco industry hold SCTE technical certifications.last_img read more

Global streaming service Netflix has reportedly en

first_imgGlobal streaming service Netflix has reportedly entered into talks with Singapore’s Media Development Authority over a planned launch in the Asian territory.The Singapore Times reported that Netflix is keen to avoid the examples of fellow US-based media and tech firms Google and Apple, both of whom launched in Singapore without regulatory go-ahead and were later forced to pull down restricted content.“We don’t want to do that,” said Netflix’s chief communications officer, Jonathan Friedland, adding the streamer wanted to have “good relations” with the Singaporean government, of which the influential MDA is a branch.Netflix revealed it would launch in the Asia region in early 2016, though there is no date for the roll out as of yet.According to a report in Channel News Asia, Netflix plans to launch in Singapore through partnerships with local telecommunications firms at a starting price point of around S$11 (US$8) a month.Friedland said Netflix had held meetings with SingTel and StarHub over “possible forms of cooperation”.“We are also going to have a much bigger selection of Korean, Mandarin and Cantonese drama in this part of the world,” Friedland told Channel News Asia. “We have to learn what people really want, and curate the selection. We’re trying to have different things for different people, and create a really rich portfolio of content.”Netflix has previously revealed it will create local Asian programming following agreements in Japan and South Korea.A separate report in the local press this week suggests Netflix is also primed to launch in the Gulf UAE state.last_img read more

Amazons new video platform could be a serious th

first_imgAmazon’s new video platform could be a “serious threat” to Netflix and other SVOD platforms, according to IHS Technology.This is because Amazon Direct Video’s free-market approach “enables the discovery of new talent and cult content, which has previously proven so valuable to these kinds of services”, said IHS Technology’s senior analyst for home entertainment, Jonathan Broughton, and principle analyst for connected home Merrick Kingston.ADV, announced yesterday, works on a four-tiered basis: a YouTube style uploading platform that allows content creators to get revenues from ads, a rental/purchase option, an option that makes content free for Amazon Prime Video customers, and an add-on subscription service through Amazon’s Streaming Partners Program.IHS said this allowed “content owners flexibility, allowing users to experiment with a range of business models in order to monetise their content”, and pointed to the fact content creators could use a combination of the available tools.Furthermore, AVD allows users “a mechanism to understand their audience and would likely be “present in more living room TV sets than rival platforms”.Amazon will also be able to aggregate non-exclusive content, which will likely rest in existing multichannel networks uploading content onto the platform “on a large scale”.“The flexibility of business models offered allow for a wider range of content creators to be organically aggregated onto the platform,” said the IHS analysts. “At the user-generated-content end of the scale, advertising-funded distribution ensures that the maximum audience is reached.“Meanwhile, as successful independent content creators move into professional production, paid content models will take over, also supporting existing owners of professional video content. These foundational principles are not novel, and underlie similar recent initiatives from Comcast’s Watchable and Verizon’s Go90. However, Amazon is prepared to offer creators a far more varied set of remuneration models in a single platform.”IHS’s Connected Devices Intelligence Service has estimated that Amazon Fire TV and Fire TV Sticks will reach an installed base of 14.1 million by the end of the year in the US, rising to 30 million by 2020.“In the market for exclusivity-backed user-generated content, AVD’s closest US competitors cannot match AVD’s living room scale,” said Broughton and Kingston.“Verizon’s Go90 has no living room scale, because the service is accessible only from portable devices. Comcast’s Watchable – available on the X1 platform – has well below ten million subscribers.”AVD is now available in all the countries where Amazon Video is available – the US, UK, Germany, Austria and Japan.last_img read more

Rona Fairhead BBC Trust chairman Rona Fairhead wil

first_imgRona FairheadBBC Trust chairman Rona Fairhead will step down when a unitary board replaces the BBC Trust, after being informed by the government that she would have to re-apply for her job.In a statement, Fairhead said that she had been “strongly encouraged” by new UK prime minister Theresa May to take part in a new appointment process for what would be a new four-year term as BBC chairman.“However, after much thought I have come to the conclusion that I should not do so,” she said. “It is my belief that it will be better to have a clean break and for the government to appoint someone new, and for me to continue my career in the private sector as I had always planned to after my existing term ended in 2018.”Fairhead was appointed Trust chair in 2014 and was asked by the previous government, under David Cameron, to stay on until the end of her four-year term to help oversee the move to a unitary board, which will replace the BBC Governors and the BBC Trust.The establishment of the new board was one of the plans for the BBC’s next Charter period, as set out by the government’s White Paper on the future of the public broadcaster, which was published in May.However, in August a Culture, Media and Sport Committee of MPs criticised the appointment of Fairhead to chairman of the new unitary board, claiming that the two roles at the Trust and the new board are “very different, and have very different responsibilities”.The committee said that the process of appointing the chair should have been via an open and public competition process, with chair of the Committee, Damian Collins MP, commenting at the time that the “unusual appointment would likely be referred to the Commissioner for review”.A spokesperson for the BBC Trust said that Fairhead will continue in her current role until it effectively ceases to exist, with the introduction with the new unitary board. This is due to be established at the end of the BBC’s current Charter period, which is due to run until December 31, 2016.“I took on leadership of the Trust to help stabilise, strengthen and develop the BBC following a very difficult period in its history and through Charter Review. I was always clear that I was willing to serve for four years, after which I would continue my career in the private sector,” said Fairhead.“I am proud of what I and my colleagues, both at the Trust and the BBC, have accomplished during the past two years. I believe the draft Charter will secure the strong, confident and independent BBC that the public want and deserve.”In a statement, BBC director general, Tony Hall, said: “Rona has made a real contribution to the BBC and at a really important time for us. On behalf of all the staff, I’d like to thank her for that and wish her the very best for the future. We will continue to work together in the interests of licence fee payers until the new governance arrangements are in place.”last_img read more

TiVo has renewed Rovis deal with Panasonic allow

first_imgTiVo has renewed Rovi’s deal with Panasonic, allowing the electronics giant to continue to provide advanced entertainment discovery experiences across its TV, DVR and set-top boxes.The multi-year product and intellectual property deal covers products Panasonic has licensed for the Japanese market, including Rovi’s G-Guide, G-Guide HTML and G-Guide xD offerings.Panasonic also renewed its license for Rovi’s entertainment discovery patent portfolio.“Our innovative products help companies like Panasonic deliver seamless navigation experiences that help users find the content they want to watch no matter where they are or what device they are watching from,” said Michael Hawkey, senior vice president and general manager of user experience, TiVo.Rovi Corporation has agreed to buy TiVo in a cash and stock deal worth roughly US$1.1 billion (€961 million) in April. The deal closed in September and the companies began integrating technological and product capabilities under the TiVo brand name.last_img read more

The Skeleton event at the Winter Olympics Getty I

first_imgThe Skeleton event at the Winter Olympics (Getty Images)Eurosport has agreed to partner with millennial media brand NowThis to produce and co-distribute sports-related social video.The new collaboration comes after Eurosport’s owner, Discovery Communications, invested US$100 million in NowThis’ parent company, Group Nine Media, in October.NowThis will act as a social video production arm for Eurosport’s Olympic coverage, while Eurosport will provide NowThis access to its library of sport content.Eurosport will also be the initial European media partner for the launch of the NowThis Sports vertical, which is due to go live in May, and will  be the exclusive ad sales team for NowThis Sports in Europe.“Eurosport is dedicated to offer more premium, local and exclusive sports coverage across Europe and drive engagement with existing consumers, as well as a newer, younger mobile-first audience,” said Peter Hutton, Eurosport CEO.“This innovative partnership with NowThis, the number one video news publisher on the social web, will allow us share our cutting-edge storytelling and connect our passionate audiences with their favorite athletes in a unique and dynamic way.”Eurosport has secured rights to broadcast the Olympic Games from 2018-2024.last_img read more

Conviva a data intelligence firm that works with

first_imgConviva, a data intelligence firm that works with clients like Sky, HBO and Turner, has raised US$40 million in funding. Existing backers Time Warner Investments, Foundation Capital and New Enterprise Associates (NEA) all participated in the round, alongside new investor, Future Fund.Conviva said it would use the cash to grow internationally, expand all global sales, marketing, and R&D activities, and to support the development of new products.While the majority of Conviva’s video-on-demand and pay TV customers are currently in North America and Europe, the company said it plans to expand its presence in Latin America and Asia.“We have consistently been growing faster than the overall market and have developed a strong, sustainable business model,” said Conviva co-founder and CEO, Hui Zhang.“We are excited to close this round of funding so we can accelerate our new product offerings and our global market expansion, extending our technology and market leadership in OTT measurement and analytics.”Conviva offers tools designed to help clients to measure and analyse content consumption as viewers increasingly move to web-delivered, multi-device viewing patterns.The company said its software sensors are currently deployed across 2.5 billion devices globally and measure more than one billion streaming minutes per day of premium video content.Conviva claims it saw 80% growth in viewing minutes in the past year and expects that growth to exceed 150% in 2017.“As the way people consume content continues to evolve, we believe Conviva will be a foundational element of measurement and analytics for the next generation of TV,” said Pete Sonsini, general partner and head of enterprise investing at NEA.last_img read more

Susanna Dinnage Discovery Communications has named

first_imgSusanna DinnageDiscovery Communications has named Susanna Dinnage as global president for pay TV channel Animal Planet, with general manager Patrice Andrews exiting.Discovery Networks UK and Ireland president Susanna Dinnage (pictured) has landed the post, which will see her jointly reporting to Discovery CEO and president David Zaslav and international chief executive J.B. Perrette.Discovery said this marks the first time one of its channel brands have been managed on a global basis, and represented a new operating model that aligns all of Animal Planet’s initatives.London-based Dinnage is also currently chief content officer for Perrette’s Discovery Networks International. A spokeswoman said she would remain in her current posts during a transition period.Her new post will see her oversee teams in the UK and US, and contributors from elsewhere around the world in order to create animal-themed content that serves ‘super fans’ – what Discovery calls niche groups of viewers and customers that are willing to pay for exclusive and original content on their favourite topics.Her duties will include developing direct-to-consumer products, production of short-form and mobile content, and overseeing Discovery’s investment in natural world-focused digital business The Dodo, which Group Nine Media owns and operates.The exiting Andrews had been overseeing Animal Planet with Rich Ross, who is group president of the network, plus the DIscovery Channel, Science Channel and Velocity.Ross will no longer oversee Animal Planet, however, and will focus on his role in charge of the other networks moving forwards.“As Discovery continues to strategically pivot and deliver our content to consumers across all screens and services, it is more important than ever that our brands are structured and managed in a way that best exploits their global potential,” said Zaslav.“We are confident that this new global model, combined with Susanna’s expert leadership and the worldwide appeal of our animal content, will maximise Animal Planet’s power across linear channels and create new digital opportunities around the world.”“Susanna’s creative prowess, commercial expertise and deep understanding of consumer viewing preferences across diverse markets has driven success for Discovery’s international business for many years,” said Perrette. “This new structure will expand Animal Planet’s strong heritage and affinity among passionate superfans across the globe.”Dinnage has been with Discovery since 2009, holding several roles in Europe during that time. In the UK, she has built a suite of free TV, pay TV and OTT networks, plus recently launched Discovery Channel and Eurosport on the Amazon Channels platform.The animal kingdom and natural world give us all such joy and, in times of uncertainty, there is no better antidote than to spend more time immersed in the wonders of the world around us,” she said.“I look forward to bringing new talent and more adventure and reflecting the worldwide love of animals to every screen on Animal Planet. With a team based in London and New York, this is a great opportunity to work with a wide range of production companies across the world.”last_img read more