SKY INVESTS IN NEXT GENERATION VIDEO PLATFORM MOLOTOV
Sky has invested €4 million in Molotov, an over-the-top video platform in France that distributes free and pay TV channels and content to consumers via a freemium model. This investment is part of a larger Molotov financing round and is the latest in a series of Sky investments in innovative start-up companies.
Molotov was founded in 2014 by JeanDavid Blanc (founder of AlloCiné), Pierre Lescure (founder of Canal+ and President of the Cannes Film Festival) and Jean-Marc Denoual (former senior executive at TF1 Group). Molotov's ambition is to become a leading OTT aggregator and distributor of TV content for consumers. Molotov also provides a new distribution platform for TV channels and content owners. The company launched its first publicly available service in July 2016.
Notes to editors
1) References to Molotov are to Molotov SAS ("société par actions simplifiée")
2) Gross assets subject to this transaction were €4m (Euro)
3) Profits attributable to the assets subject to this transaction were €nil
4) This announcement is being made in accordance with Listing Rule 10.4.1
For more information
Sky is Europe's leading entertainment company, serving 22 million customers across five countries: UK, Ireland, Germany, Austria and Italy. We offer the best and broadest range of content, deliver market-leading customer service and use innovative new technology to give customers a better TV experience, whenever and wherever they choose.
Sky has annual revenues of £12 billion and is Europe's leading investor in television content with a combined programming budget of £5.2 billion. The group employs 30,000 people and is listed on the London Stock Exchange (SKY).
For more information visit www.sky.com/corporate.
This information is provided by RNS