Tech
Two Way TV, the interactive television content provider in which ntl has a 48.1% voting interest, has gained £12m in funds from a new minority shareholder. Swedish investment house SMI Media Invest becomes a significant minority shareholder in the growing company, and will place two of its directors on the Two Way TV board.
The investment by SMI Media Invest will be used to fund the continuing rollout of Two Way TV's games channel across all UK digital platforms, including terrestrial and satellite. The company hopes to break-even soon, and the extension of its product to these platforms is seen as vital in attaining that goal.
Two Way TV CEO, Simon Cornwell, commented:
"This major investment from SMI Media Invest will enable us to continue our roll-out across all the major broadcast platforms in the UK and launch new interactive services Broadcasters around the world are focusing on the power of interactive games in building loyal audiences and new revenue streams. We will now be able to move forward at a steady, confident pace towards break-even."
SMI Media Invest's CEO Michael Werner said of Two Way TV:
"Two Way TV is the world leader in interactive games for digital TV. Linked to our portfolio of companies who are all leaders in digital TV technology and content, we believe Two Way TV will be perfectly positioned to capitalise rapidly on the fast-growing market for interactive TV. We look forward to working with Two Way TV to build their business in the UK and beyond."
ntl's UK and Ireland Managing Director, Stephen Carter, added:
"This deal further reinforces Two Way TV's position in the marketplace and gives the company the ability to roll out its unique brand of interactive entertainment across multiple distribution platforms in the UK. We are delighted to be working with SMI Media Invest as a significant investor in Two Way TV, and we look forward to a strong and successful relationship with them."
The investment by SMI Media Invest will be used to fund the continuing rollout of Two Way TV's games channel across all UK digital platforms, including terrestrial and satellite. The company hopes to break-even soon, and the extension of its product to these platforms is seen as vital in attaining that goal.
Two Way TV CEO, Simon Cornwell, commented:
"This major investment from SMI Media Invest will enable us to continue our roll-out across all the major broadcast platforms in the UK and launch new interactive services Broadcasters around the world are focusing on the power of interactive games in building loyal audiences and new revenue streams. We will now be able to move forward at a steady, confident pace towards break-even."
SMI Media Invest's CEO Michael Werner said of Two Way TV:
"Two Way TV is the world leader in interactive games for digital TV. Linked to our portfolio of companies who are all leaders in digital TV technology and content, we believe Two Way TV will be perfectly positioned to capitalise rapidly on the fast-growing market for interactive TV. We look forward to working with Two Way TV to build their business in the UK and beyond."
ntl's UK and Ireland Managing Director, Stephen Carter, added:
"This deal further reinforces Two Way TV's position in the marketplace and gives the company the ability to roll out its unique brand of interactive entertainment across multiple distribution platforms in the UK. We are delighted to be working with SMI Media Invest as a significant investor in Two Way TV, and we look forward to a strong and successful relationship with them."
More: Tech, Cable TV and Broadband
More Tech News
Apple News
Apple, Samsung peace talks failChief executives of both firms fail to reach agreement, mean legal trial likely.
Satellite TV News
Sky marks Jubilee with Union Jack remoteSky and One For All create universal remote celebrating the landmark UK summer.
Cable News
Pirate Bay blockade begins with VirginBT, Sky, others to follow suit, but rights groups warn it won't tackle piracy.
Freeview News
Freeview+ made easier for blind peopleRNIB develops software to make it easier for blind people to use Freeview+.
