Ad hoc Announcement by Intertainment AG
Intertainment acquires pre-IPO share
option of up to 20% in filmgroup
filmgroup announces IPO for the beginning of June
Munich, May 18, 2000 - 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
Press Contact:
Intertainment AG
Claudia Wilmans
Widenmayerstrasse 49
80538 München
Tel.: 0 89 / 21 69 9-0
Fax: 0 89 / 21 69 9-11
e-mail: cwilmans@intertainment.de