Ericsson is renaming its broadcast and media services business Red Bee Media, which will be an independent business fully owned by Ericsson with operations in Australia, Finland, France, Germany, the Netherlands, Spain, Sweden, the U.K., United Arab Emirates and the U.S.
“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,” said Steve Nylund, CEO of Red Bee Media, in a statement.
Red Bee Media is headquartered in the United Kingdom and employs around 2,500 broadcast and media specialists globally. The firm offers media management, playout, OTT, access services, content discovery, creative services, sports graphics and analysis solutions.
Earlier this year, Ericsson elected to split its media business into two units: broadcast and media services and media solutions. The change was part of an overall strategy shift at the company.
"For some time Ericsson has been challenged on both technology and market leadership and the group strategy has not yielded expected returns. In our strategy review we have listened carefully to customers around the world and made an in-depth analysis of our portfolio and performance. To enable us to immediately take action and move with speed in execution we are today outlining our path to restoring profitability and to lead with innovation and best in class solutions in areas we have decided to focus on," said Börje Ekholm, Ericsson president and CEO, in a statement.