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26/04/2001

TWO WAY TV ATTRACT £12 MILLION INVESTMENT

SWEDISH investment house SMI Media Invest are to put £12 million into interactive television entertainment company Two Way TV.
They will become new shareholders with a significant minority interest and two of their directors will join the main board.
SMI Media Invest focuses on new and dynamic companies in the digital interactive TV sector across Europe. This investment will fund the continued rollout of Two Way TV in the UK across all digital television platforms including satellite, taking the company forwards towards break-even.
Two Way TV offers an interactive games channel which is deployed on a number of digital cable and satellite networks around the world. In the UK, they distribute to almost a million pay-per-play digital cable homes and will soon launch on digital terrestrial platform ONdigital. The next step will see deployment of Two Way TV’s enhanced television capabilities that enable viewers to join in from home with game shows and sports events as they are broadcast.
In addition to pay-per-play revenues, Two Way TV are also starting to attract big name advertisers and sponsors such as Cadbury, Domino’s Pizza, and Sportal.
Two Way TV Chief Executive, Simon Cornwell, said: “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.” (CD)
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