Endemol takes 25% stake in MoMedia
- Published: 21 August 2007 08:54
- Author: Robin Parker
- More by this Author
- Last Updated: 22 August 2007 09:16
Endemol UK has taken a 25% stake in digital entertainment producer and distributor MoMedia International. [ALL]
Endemol UK has taken a 25% stake in digital entertainment producer and distributor MoMedia International.The London-based company produces content for mobile, broadband and IPTV and has distribution deals with more than 50 production companies including APTN, Bullseye TV and 3DD Entertainment.
The deal is the first of its kind signed by Endemol UK following the creation last year of a fund to invest £15m in digital media over three years.
MoMedia has relationships in 35 countries with mobile networks such as 3, Vodafone and T-Mobile and broadband providers Yahoo! and AOL.
Chief executive officer Lucas Bertrand and chief operating officer Mark Benmore set up MoMedia in 2005 after they left Australian production company and distributor World Wide Entertainment.
Endemol UK's managing director, Digital Media Peter Cowley will join the MoMedia board.
He said: 'MoMedia has an impressive entrepreneurial track record in areas that to us represent strategic opportunities for growth. Our involvement with them will further expand our digital content production and our capacity to create new entertainment properties in this field.'
