Tamedia acquires stake in Zattoo's Swiss business
Tamedia has expanded its online business in the Internet TV market. The media company is acquiring a stake in Zattoo's business in Switzerland. The former Zattoo Europe is spinning off its activities in Switzerland and Liechtenstein into Zattoo Switzerland.
Tamedia has expanded its online business in the Internet TV market. The media company is acquiring a stake in Zattoo's business in Switzerland. The former Zattoo Europe is spinning off its activities in Switzerland and Liechtenstein into Zattoo Switzerland.
The collaboration will enable Zattoo to further expand and market the Internet TV service it launched in 2006. This was announced by Zattoo and Tamedia in a press release on Thursday.
As a first step, Tamedia is participating in the financing of Zattoo International with a loan and is supporting the company in the spin-off of Zattoo Switzerland. Once this subsidiary has been established, Tamedia will acquire 24.5 percent of the share capital of the Swiss company as part of a conversion of the loan. The parties have agreed not to disclose further details of the investment.
The Zattoo TV service currently has over 800,000 users in Switzerland. With distribution in Belgium, Denmark, Germany, France, the UK, Norway and Spain, the service is used by over 3 million people worldwide.
Zattoo employs around 40 people at its two offices in Zurich and Ann Arbor in the USA.
The collaboration will enable Zattoo to further expand and market the Internet TV service it launched in 2006. This was announced by Zattoo and Tamedia in a press release on Thursday.
As a first step, Tamedia is participating in the financing of Zattoo International with a loan and is supporting the company in the spin-off of Zattoo Switzerland. Once this subsidiary has been established, Tamedia will acquire 24.5 percent of the share capital of the Swiss company as part of a conversion of the loan. The parties have agreed not to disclose further details of the investment.
The Zattoo TV service currently has over 800,000 users in Switzerland. With distribution in Belgium, Denmark, Germany, France, the UK, Norway and Spain, the service is used by over 3 million people worldwide.
Zattoo employs around 40 people at its two offices in Zurich and Ann Arbor in the USA.
