Tamedia expands commitment to Zattoo
Tamedia is expanding its stake in the Internet TV provider Zattoo and is acquiring a 31 percent stake in Zattoo International. Tamedia is contributing its current 39.4 percent stake in Zattoo Switzerland to the new investment.
Tamedia will support the international expansion of the business and provide a member of the Board of Directors. The agreement provides for the possibility of a gradual takeover of Zattoo International by Tamedia until 2021. Zattoo and Tamedia both see enormous potential in the Internet TV market, according to the statement. In Switzerland, Zattoo is the clear market leader and cooperates with Tamedia, for example, through integration in the mobile offerings of 20 Minuten. Zattoo is also number one in the fast-growing German Internet TV market, according to the statement.
In addition to the consumer business, Zattoo has succeeded in recent years in establishing itself as a technical service provider for cable TV and IPTV providers. Various network operators in five European countries use Zattoo's technology and service to operate their TV service. Christoph Brand, member of Tamedia's Management Board and Head of Digital: "Zattoo shows in an exemplary way how to expand from Switzerland with an innovative product and thus enriches Tamedia's portfolio".
Bea Knecht, founder of Zattoo and Chairman of the Board of Directors: "Tamedia has been a good partner for us in Switzerland and we look forward to working together internationally."
