UnitedGlobalCom (UGC) on Saturday announced the acquisition of Zone Vision, a leading international broadcaster and distributor of thematic television channels including Reality TV. Chellomedia, the European content subsidiary of UGC, has acquired an 87.5 per cent interest in Zone Vision Networks Ltd.
This acquisition is likely to have repercussions in India as it will induce fresh marketing strategies for Reality TV, which is in the process thereby reinforcing its commitment to the Asian markets. In India, Zee Turner distributes Reality TV.
"This acquisition represents a unique opportunity to strengthen our programming activities in Europe. As we expand our rollout of digital video and broadband Internet services, the need to develop and control attractive content becomes increasingly more important," said Mike Fries, President and CEO, UGC. As part of the transaction Chellomedia will also contribute to Zone Vision the 49 per cent shareholding it already holds in Reality TV and Chellomedia's Club channel business.
When asked about the reason behind the move, Chris Wronski, President and Chairman of Zone Vision, said, "Some time ago we began a search to identify a partner that could help us move our business to the next level. With the success of our Reality TV channels around the world, as well as the growth we have experienced with channels like Romantica and Europa, we have sought to develop more targeted channels for the international digital cable and satellite market."