It was a similar story at satellite fleet operator SES during the second quarter as the video sector suffered again, although a nasty surprise was in store this time around with the Networks division also taking a blow – effectively reversing the trend of the so-called SES recovery. Once again, despite SES reporting a total first half 2018 revenue decline of 6.4% year on year to €1.05 billion ($1.2 billion), the stock market reacted positively – driven primarily by the prospects of cashing in on C-band spectrum. We wonder how long SES can continue bathing in positive coverage before the house of cards comes tumbling down. SES is facing a future where video will no longer be the largest earner,…