ots Ad hoc-Service: Intertainment AG <DE0006223605> Intertainment acquires pre-IPO share option of up to 20% in filmgroup
Munich (ots Ad hoc-Service) -
The sender is solely responsible for the contents of this announcement.
Intertainment acquires pre-IPO share option of up to 20% in filmgroup
filmgroup announces IPO for the beginning of June
Munich-based media group Intertainment AG has acquired the option to purchase up to 20% of the British Internet film distributor filmgroup at pre-IPO conditions. Redbus, a subsidiary of filmgroup, has recently acquired from Intertainment substantial exclusive Video-on-Demand (VoD) and free TV rights limited to the UK. filmgroup is expected to be floated on the London stock exchange at the beginning of June this year. filmgroup plans to be the first British company to deliver a large library of exclusive and non-exclusive films over the Internet by VoD launching in the fourth quarter of this year. Through its web site www.films2.com, users will be able to watch feature films online through the TV, by using a set-top box, a PC or a web enabled TV as interface.
Intertainment and filmgroup are also engaged in talks about a joint venture extending their Video-on-Demand business to include the Scandinavian market.
Research analysts believe that filmgroup has a "significant first-mover advantage" in the British VoD market. This marks a further step in Intertainment's Internet distribution strategy following its acquisition of approximately 26% in SightSound.com, the US market leader in Internet-based film distribution. On April 10, 2000 SightSound.com has filed for an IPO, which is also expected in June this year.
End of announcement
Your Contact at Intertainment: Claudia Wilmans Intertainment AG Widenmayerstrasse 49 80538 Munich Germany
tel.: 0049 (89) 21 69 9-0 fax: 0049 (89) 21 69 9-11 e-mail: cwilmans@intertainment.de
End Internet: http://recherche.newsaktuell.de
Original-Content von: Intertainment AG, übermittelt durch news aktuell