Subscription digital TV services are seeing huge increases in participation in the UK, which is helping TV maintain its dominance of the media landscape, even as TV viewing habits keep evolving . Subscription video-on-demand (VOD) services, such as Netflix and LOVEFiLM, increased revenues by 167% to 160 million ($254 million) compared to 2012, according to Deloitte. Pay television gained the most market share among the various TV revenue opportunities between 2007 and 2012, growing from 24% to 31% of revenues in 2012. Nonsubscription VOD services will see much more nominal increases, according to Digital TV Research , expected to grow by 14.2% between 2012 and 2018 and further testimony that subscription VOD content will the key driver of TV viewing and pay TV growth. Even as VOD contentboth subscription and nonsusbscriptiongain viewers, however, and offer alternative viewing options, UK consumers continue to prefer watching TV on physical TVs rather than laptops, tablets or other devices, according to May 2013 research from YouView . Across all age groups and among both genders, TV was the preferred device used to watch TV content by a wide margin. Younger viewers, unsurprisingly, were the most open to watching TV on other devices. In total, YouView found, UK viewers watched 16 hours of live TV, another 8.8 hours of recorded TV and a further 6.06 hours of catch-up TV on average per week. Importantly for advertisers, UK consumers seem to believe in the efficacy of TV ads, even as their viewing habits move more in the direction of subscriptions services with limited ad opportunities. More than half of respondents to Deloittes study believed that TV ads were the most effective type of ad, at 52% of respondents, far ahead of newspapers, which ranked second and were seen as effective by 14% of respondents. Corporate subscribers have access to all eMarketer analyst reports, articles, data and more.
UK authorities clear Baba Ramdev after second round of questioning
(TSX: IAE, LSE AIM: IAE) (“Ithaca” or the “Company”) announces further UK exploration portfolio farm-out transactions.When combined with the previously announced UK farm-outs the Company is now fully carried for the forecast cost of drilling the UK exploration well commitments transferred as part of the Valiant Petroleum plc (“Valiant”) acquisition and in addition will receive over $8 million in cash from the farm-out parties. Highlights *Farm-out to Oyster Petroleum Limited (“Oyster Petroleum”) of a 9% working interest in the UK licences containing the Handcross prospect and a further 5% working interest to Sussex Energy Limited (“Sussex Energy”).Ithaca has a fully carried 31% working interest, will receive a cash payment and has retained operatorship of the licence. *Farm-out to Euroil Exploration Limited, a subsidiary of Edison SpA (“Edison”), of a 10% working interest in the UK licence containing the Isabella prospect for cash.Ithaca has a fully carried 10% non-operated working interest and will receive a cash payment. *The farm-out agreements collectively provide for the parties to pay their working interest share of future licence costs, the reimbursement of past licence costs and the payment of certain cash considerations. *Ithaca has now offset the full $85 million of forecast UK exploration well commitment costs transferred as part of the Valiant acquisition and generated over $8 million in cash payments. Iain McKendrick, Chief Executive Officer, commented:”I am delighted that the Company has achieved a cashflow positive position with respect to the Handcross and Isabella exploration wells.The Company has successfully executed upon its key post-acquisition objective of removing its UK exploration cost exposure whilst still retaining potential upside.” Handcross Exploration Well Farm-Out Ithaca has entered into a farm-out agreement with Oyster Petroleum concerning UK licences P1631 and P1832 (blocks 204/14c, 204/18b and 204 /19c), which contain the Handcross prospect.In addition Sussex Energy, an existing Handcross co-venturer, has exercised an option under the terms of its original farm-out agreement to take a further 5% working interest in the licences. The agreements will result in the transfer of a 9% working interest in the licences to Oyster Petroleum and a 5% working interest to Sussex Energy in exchange for the companies paying their working interest shares of past and future licence costs in addition to providing Ithaca with a cash payment.These transactions reduce Ithaca’s working interest in the licences from 45% to 31%.Ithaca retains operatorship of the licences. When combined with earlier farm-out transactions to RWE Dea UK SNS Limited and Edison, Ithaca is now carried for its forecast share of the planned Handcross exploration well cost and will also receive additional cash beyond the carry. Handcross is a Palaeocene prospect located in the Judd Basin in the West of Shetland sector of the UK Continental Shelf (“UKCS”).An exploration well is to be drilled on the prospect using the Stena Carron drillship, with operations anticipated to commence in late 2013. Completion of the transactions is subject to normal regulatory and third party consents.Following completion, the Handcross partners will be Ithaca (31%, Operator), Edison (25%), RWE Dea (20%), Sussex Energy (15%) and Oyster Petroleum (9%). In addition, Ithaca has entered into a further agreement with Oyster Petroleum to transfer its full 33.33% non-operated interest in UK licence P2018 for a cash sum.The licence, covering West of Shetland blocks 214/24b, 214/29a and 214/30c, was awarded in the UK 27th Offshore Licensing Round.Completion of the licence transfer is subject to normal third party and regulatory consents. Oyster Petroleum isa new UK West of Shetland focused exploration company backed by the Norwegian international oil and gas investor HitecVision.Sussex Energy is a subsidiary of Azimuth Limited, a privately owned company with assets in the UKCS, Norway, Eire and Namibia. Isabella Exploration Well Farm-Out Ithaca has entered into an agreement with Euroil Exploration Limited, a wholly owned subsidiary of Edison, to farm-out a 10% interest in UK licence P1820 which contains the Isabella gas condensate prospect.This transaction reduces Ithaca’s non-operated working interest in the licence from 20% to 10%. The farm-out agreement provides for Edison to pay its 10% working interest share of future licence costs in addition to a cash payment to Ithaca.When combined with the earlier Isabella farm-out transaction executed with Maersk Oil North Sea UK Limited, Ithaca is now carried for its forecast share of the Isabella exploration commitment well cost and will also receive additional cash beyond the carry.
UK should return to Bulgaria
Having once been very popular in the UK, Bulgaria spent years in the wilderness following declining quality towards the end of the communist era. However, current winemakers argue that the wine industry is back on its feet again and deserving of a second chance. Its very important to bring belief in Bulgarian wines back to the UK market, Milko Tsvetkov, owner of Villa Yustina, told the drinks business on a recent trip. Were making good wines again. Good quality and good value, echoed his trade director, Petya Angelova. Equally striving for better quality is Krasimir Patishanov, general manager of the Brestovitsa co-operative. During his three years in charge he has introduced new, in-winery, bottling lines and encouraged his growers to reduce yields something that the co-op has been encouraging for the last 15 years. The consumers in the UK need to come back to Bulgaria because the wines have the quality and are developing at a good price. Patishanov also made the case for indigenous grape varieties such as Mavrud and Rubin arguing that they offered a new experience in their own right and were interesting grapes to blend with international varieties. Theyre good enough to compare with international varieties, he said, and they make blends unique. Merchants welcome blends because its something interesting and new. We dont need to produce something that has already been done and only Bulgaria can offer these (native) varieties. Kalin Martinov, CEO of Starolets winerys owner MK 2004, continued: Its a dream to be back in the UK but only with good quality wines. In the last few years there have been new players and theyre investing in new technology and equipment.
Ithaca Energy Inc.: Further UK Exploration Portfolio Farm-Outs
But there was no bad behaviour on their part. At one point one of the officials did get angry but I stayed cool so there was no problem,” Ramdev said in reference to his detention. Ramdev is in the UK to chair a series of yoga shivirs and talks organised by the Patanjali Yog Peeth (UK) Trust. Vaz, who had accompanied the yoga guru from a gathering in Leicester for the meeting here today, said he would make further inquiries into the reasons behind the hours of questioning. “No Indian citizen travelling on a valid visa should be held in this way. I hope this will not stop Baba Ramdev from coming to the UK again. All his belongings and passport with a two-year valid UK visa have now been returned to him,” Vaz said. “It has certainly been an odd arrival but he can now go about with his planned itinerary,” the Leicester East MP said The UK Home Office refused to comment on what it described as an individual’s questioning over immigration issues. Ramdev’s spokesperson S K Tejarawala dismissed reports that he was detained for carrying some medicines. “He was not carrying anything with him except a small bag of personal effects. It is for the British authorities to explain why he was detained,” he said. His detention has been criticised by the BJP which urged the Centre to intervene. BJP President Rajnath Singh termed the detention of the yoga guru as “serious” issue and asked the Centre to take cognisance of the matter. From the airport, Ramdev today headed straight to the 150th birth anniversary celebrations of Swami Vivekananda at a conference centre in south-west London.