WASHINGTON, Nov. 9, 2017 /PRNewswire/ --
Ericsson (NASDAQ: ERIC) is renaming its Broadcast and Media Services business to Red Bee Media, effective from November 9, 2017. The Red Bee Media name and brand identity will apply to all of Ericsson's Broadcast and Media Services businesses worldwide. As part of this change Red Bee Media is now an independent business fully owned by Ericsson with operations in Australia, France, Germany, the Netherlands, Spain, Sweden, the UK, United Arab Emirates, and the U.S.
Steve Nylund, CEO of Red Bee Media, says: "We looked at not only our vision and strategy for the future but also what we, as a business, now stand for. The Red Bee Media brand has a long and rich heritage in TV and media and is well recognized across the industry. Adopting this brand will enable us to strengthen our position as an independent and agile media services organization. It will provide the basis for our business, our people and our clients to unify around a shared identity that represents our purpose, brand positioning and values."
Red Bee Media is a world leading provider of broadcast and media services. It is headquartered in the UK and employs around 2,500 broadcast and media specialists globally. Its comprehensive services portfolio spans media management, playout, OTT, access services, content discovery and award-winning creative services and sports graphics and analysis solutions.
Facts about Red Bee Media
Every day, people on all continents watch television programs prepared, managed and broadcast by Red Bee Media staff. Every year, the business delivers more than 2.7 million hours of programming in more than 60 languages for nearly 600 TV channels. Its content discovery portfolio spans more than 10 million movies and program titles, covering over 25 languages, and includes an image database covering over 90 percent of all programming available across traditional TV, video on demand (VOD) and subscription video on demand (SVOD). It provides over 230,000 hours of captioning each year - more than 100,000 hours of which is live.
Ericsson first entered into the media services business in 2007 and subsequently grew the business both organically and through acquisitions, including Red Bee Media in 2014.
Earlier this year Ericsson presented a focused business strategy to revitalize technology and market leadership, improve group profitability and enable customer success. This includes exploring strategic opportunities for the company's media businesses while continuing to develop solutions to enable the businesses to scale and succeed in the evolving media landscape.
More information about Red Bee Media, its portfolio and services can be found here.
NOTES TO EDITORS
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Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden. Our organization consists of more than 111,000 experts who provide customers in 180 countries with innovative solutions and services. Together we are building a more connected future where anyone and any industry is empowered to reach their full potential. Net sales in 2016 were SEK 222.6 billion (USD 24.5 billion). The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.
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