Private equity giant CVC bets on going public
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 19 October 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Netflix stemmed its subscriber losses in the third quarter and Russia is using Iranian drones in its war against Ukraine. Plus, Europe’s top private equity firm, CVC Capital Partners, is preparing to go public and the move has implications for the whole sector.
Mentioned in this podcast:
Netflix shares jump as it gains 2.4mn new subscribers
CVC’s biggest bet yet: the fiercely private buyout firm set to go public
Military briefing: Russia rolls out Iranian drones to ‘terrorise’ Ukraine
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.3 | Today is Wednesday, October 19th, and this is your FT News Briefing. |
| 0:19.1 | Netflix had a balanced back earnings report yesterday, |
| 0:22.3 | and Russia has unleashed Iranian drones on Ukraine. |
| 0:26.1 | Plus Europe's biggest private equity firm has long avoided the spotlight. |
| 0:31.3 | In fact, they actually appointed a law firm to send us a whole series of letters |
| 0:38.0 | trying to stop us publishing some of the details. |
| 0:40.8 | The FT's K-Wiggins reports on CVC capital partners and its plans to go public. |
| 0:46.7 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:56.4 | Netflix said it added almost two and a half million subscribers last quarter. |
| 1:03.7 | The streaming service reported earnings yesterday and beat expectations, |
| 1:07.2 | both in subscribers and year-on-year revenue. |
| 1:10.3 | The jump in subscribers is especially good news. |
| 1:12.9 | Earlier this month, Netflix came out with its first subscriber loss in a decade. |
| 1:17.7 | Netflix also warned that revenue and earnings would drop it next quarter. |
| 1:22.2 | Still, investors like the earnings report they heard yesterday. |
| 1:25.2 | The company's share price jumped nearly 15% in after hours trading. |
| 1:35.0 | Ukraine is considering breaking off relations with Iran. |
| 1:38.8 | Kyiv is citing Russia's use of Iranian drones to attack its energy infrastructure, |
| 1:43.6 | and also, quote, terrorize the population. |
... |
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