JUMPTV TO ACQUIRE CYCLING.TV

Wed, 15/08/2007 - 08:55

Media | Broadcast | Cycling | Internet

Internet broadcast company JumpTV Inc. agreed to acquire Cycling TV Ltd for £2.44 million.

The agreement also includes performance shares equal to £3.35 million (approx US$6.79 million) that may be earned based on pre-determined revenue targets.

JumpTV over 300 internet TV channels from 75 plus countries and delivers full-screen sports, news and entertainment content on a real-time basis from all corners of the globe to computers, Internet-enabled TV sets, IP set-top-boxes and cell phones with browser access.

JumpTV will continue to maintain the Cycling.tv website and Simon Brydon, the current chief executive officer of Cycling.tv will continue in his position managing the asset. Cycling.tv will become part of the JumpTVSports division, along with the to-be-acquired XOS Broadband Network, the acquisition of which is expected to close later this month.

Brydon commented on the agreement with JumpTV, “We are delighted that Cycling.tv has found a perfect home at JumpTV. By becoming a part of the JumpTV team, we are instantly able to leverage our existing roster of top-tier cycling events and industry know- how with JumpTV’s proprietary content delivery network, its ‘Jumper’ API media player and global distribution partnerships – factors which we believe will add experiential value to our viewers, expand our overall viewership and add to the value proposition for our advertisers.”

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