Communicators
are winners!
News
11.05.2009
London, England May 11 -- Motion Network Holding PLC acquires majority stake in Cine1 Europe Ltd. to deliver online VOD throughout Europe
London, England May 11 -- Motion Network Holding PLC acquires majority stake in Cine1 Europe Ltd. to deliver online VOD throughout Europe
Motion Network Holding PLC (MNH) acquired from Atlantic Pictures Ltd. 60% of Cine1 Europe LTD (Cine1), the owner of an innovative streaming video technology platform, by decision on the 23rd of April 2009.
Atlantic Pictures Ltd. is transferring 60% of the outstanding shares of Cine1 Ltd. to MNH. For this transaction Atlantic Pictures Ltd. will receive fifty nine Million and five hundred thousand shares of MNH. The shares will be locked for a period of three years. MNH will invest one Million Euros in Cine1 Ltd. for developing the Cine1 sites across Europe. This investment will be done in two instalments each of five hundred thousand Euros. Cine1 Ltd. will keep accounting books records of the use of this money and will report on a weekly base to the board of directors of MNH.
Cine1 builds, launches and operates its own VOD platforms allowing customers to watch video content over the Internet. Cine1 will provide a wide range of programming to its customers, including a mix of European and overseas feature films across multiple genres, thereby catering to a diverse audience base.
MNH and Cine1 Europe Ltd. will stream feature films and other video programming across Europe by rolling out Cine1 websites in 18 European territories over the next 12 months beginning with Italy, Germany and Eastern European countries.
With this first major acquisition, MNH initiates its plan to deliver programming to audiences using multiple distribution channels. Cine1 is already in the late stages of developing a mobile phone application as well as a digital decoder which will allow the integration between Motion Network Television and the Cine1 streaming video platform.
Cine1 has conducted beta tests using its proprietary technology platform in June and September of 2008 through the website www.cine1.it. During the beta tests Cine1 achieved over 10 million page views, 493,000 unique users and 54,000 subscribers.
Cine1 will use a sponsorship and advertising revenue model to be one of the first organisations in Europe to allow the free unpirated legal screening of films over the Internet and it will be the first organisation to do so on a pan-European basis.
Cine1 is managed by Pete Maggi, who has been a prominent figure in the international film industry for the last 25 years. In addition to being one of the co-founders of the incredibly successful Eagle Pictures in Italy, Pete has also produced and executive produced a wide range of movies including "The Merchant of Venice" with Al Pacino. Pete Maggi has been appointed to the Board of Directors of MNH, responsible for the development of VOD within the organisation.
MNH and Cine 1 combined result in an organisation with a strong European vision and network with deeply rooted experience in all aspects of the international media and entertainment industry.
About Motion Network Holding Plc ("MNH")
MNH operates in the media and entertainment sector providing services in the areas of Broadcast Television, IPTV, Internet and TV commerce, as well as media content production and post production. MNH's wholly owned UK subsidiary, Motion Network TV ("MNTV"), will soon operate as a pan-European TV channel dedicated to film and music. For further information visit http://www.motionnetworktv.com .
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Contact-information:
Motion Network Holding Plc, 27 Eastcastle Street, London, W1W8DH
www.motionnetworktv.com
Investor Relations:
Connecting Markets GmbH, Große Bockenheimer Straße 50, 60313 Frankfurt
Tel. + 49 (0) 69 21 65 59 10 FAX + 49 (0) 69 21 65 59 11
call free 00800 6684 6624 email: info@cmir.de
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B291K520
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.
Motion Network Holding PLC (MNH) acquired from Atlantic Pictures Ltd. 60% of Cine1 Europe LTD (Cine1), the owner of an innovative streaming video technology platform, by decision on the 23rd of April 2009.
Atlantic Pictures Ltd. is transferring 60% of the outstanding shares of Cine1 Ltd. to MNH. For this transaction Atlantic Pictures Ltd. will receive fifty nine Million and five hundred thousand shares of MNH. The shares will be locked for a period of three years. MNH will invest one Million Euros in Cine1 Ltd. for developing the Cine1 sites across Europe. This investment will be done in two instalments each of five hundred thousand Euros. Cine1 Ltd. will keep accounting books records of the use of this money and will report on a weekly base to the board of directors of MNH.
Cine1 builds, launches and operates its own VOD platforms allowing customers to watch video content over the Internet. Cine1 will provide a wide range of programming to its customers, including a mix of European and overseas feature films across multiple genres, thereby catering to a diverse audience base.
MNH and Cine1 Europe Ltd. will stream feature films and other video programming across Europe by rolling out Cine1 websites in 18 European territories over the next 12 months beginning with Italy, Germany and Eastern European countries.
With this first major acquisition, MNH initiates its plan to deliver programming to audiences using multiple distribution channels. Cine1 is already in the late stages of developing a mobile phone application as well as a digital decoder which will allow the integration between Motion Network Television and the Cine1 streaming video platform.
Cine1 has conducted beta tests using its proprietary technology platform in June and September of 2008 through the website www.cine1.it. During the beta tests Cine1 achieved over 10 million page views, 493,000 unique users and 54,000 subscribers.
Cine1 will use a sponsorship and advertising revenue model to be one of the first organisations in Europe to allow the free unpirated legal screening of films over the Internet and it will be the first organisation to do so on a pan-European basis.
Cine1 is managed by Pete Maggi, who has been a prominent figure in the international film industry for the last 25 years. In addition to being one of the co-founders of the incredibly successful Eagle Pictures in Italy, Pete has also produced and executive produced a wide range of movies including "The Merchant of Venice" with Al Pacino. Pete Maggi has been appointed to the Board of Directors of MNH, responsible for the development of VOD within the organisation.
MNH and Cine 1 combined result in an organisation with a strong European vision and network with deeply rooted experience in all aspects of the international media and entertainment industry.
About Motion Network Holding Plc ("MNH")
MNH operates in the media and entertainment sector providing services in the areas of Broadcast Television, IPTV, Internet and TV commerce, as well as media content production and post production. MNH's wholly owned UK subsidiary, Motion Network TV ("MNTV"), will soon operate as a pan-European TV channel dedicated to film and music. For further information visit http://www.motionnetworktv.com .
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Contact-information:
Motion Network Holding Plc, 27 Eastcastle Street, London, W1W8DH
www.motionnetworktv.com
Investor Relations:
Connecting Markets GmbH, Große Bockenheimer Straße 50, 60313 Frankfurt
Tel. + 49 (0) 69 21 65 59 10 FAX + 49 (0) 69 21 65 59 11
call free 00800 6684 6624 email: info@cmir.de
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B291K520
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.