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  "presentationDate": "2022-05-01 00:00:00",
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  "notes": "Includes a footnote explaining the methodology for fair value adjustments and FX impacts.",
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      "text": "VENTURES PORTFOLIO REMAINED BROADLY STABLE IN Q1'22, ending with $3.4bn FMV (-$0.1bn vs Dec-2021)",
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      "text": "VENTURES FAIR MARKET VALUE ($M)",
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      "text": "CONTENT – Impacted by fall in ITV share price during the quarter\nTECH – Modest uplift due to further investments and increase in FMV (Pax8)\nINFRASTRUCTURE – No material moves in quarter, expect continued investment in Egg\nTOTAL INVESTMENTS in Q1’22 c$76m, total divestments c$11m",
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      "text": "(1) Per share amounts based on shares outstanding at the respective dates. Amounts exclude the fair values for the VMO2 JV, the VodafoneZiggo JV and SMAs and also reflect fair value adjustments for certain investments that have a higher estimated fair value than reported book value. The year over year increase in our ventures portfolio includes a net increase from investments and disposals of ~$65 million and a a net decrease from changes in fair value and FX of ~$190 million..",
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      "text": "VENTURES PORTFOLIO FMV $3.4BN",
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