Situation.
Infrastructure operator with approximately EUR 350m revenue and legacy broadcast services in structural decline.
Strategic review.
Network infrastructure operator
Challenge.
The owner mandate constrained available adjacencies. The two most economically attractive options sat outside it.
What we did.
Assessed the core trajectory and adjacency options within the mandate, and recommended a direction.
The outcome.
The owner and board agreed the direction. The mandate boundary was made explicit as a decision for the owner rather than the company.
Anonymised engagement. Figures are approximate. Targets, assessed potential, approved programmes and realised results are described separately in the outcome. Converted amounts use ECB reference rates dated 18 September 2026, rounded to two significant figures.
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