Business Editors
COPENHAGEN, Denmark--(BUSINESS WIRE)--Aug. 23, 2000
euro909.com A/S (NASDAQ: ENON) Wednesday announced it now controls 100 percent of its broadcast TV media properties, after purchasing the remaining 25 percent stake from Stig Hasner, managing director of euro909.com's broadcast media group, for 325,000 ordinary shares of euro909.com stock.
euro909.com now wholly owns three Danish TV stations, TV Bio+, DK4, and MovieBox PPV, as well as one Danish TV production company, Primevision.
For the last three months of 1999 (since euro909.com gained majority control of the subsidiaries), revenues from euro909.com's broadcast media activities were approximately $1.72 million (13.54 million DKK), not including TV Bio+ (since the station commenced broadcasting January 2000).
"With full ownership of our broadcast media operations, we can more fully utilize our cross-marketing efforts between each of euro909.com's print, online and TV operations," said Aldo Petersen, president and chief executive officer of euro909.com. "The synergistic effect from cross-marketing, production and selling not only reduces costs but augments our company visibility as well as advertising value.
"By having several different channels of media at our disposal, we offer advertisers a unique opportunity to leverage the results of their marketing and target several different audiences.
"We saw our Chili subsidiary benefit greatly this year from promotion simultaneously distributed over different media to launch its online community, Chili Club. Chili's co-branded campaigns with Yahoo! Danmark and Proctor & Gamble were very successful."
Formed in 1986, euro909.com is a European e-business enabler, which integrates Internet technology and multimedia solutions for thousands of Western European enterprises.
With offices in Scandinavia, the United Kingdom and France, euro909.com delivers value-added consulting and technology solutions, such as domain name registration; Web site design and hosting; Internet access; print, online, and broadcast media advertising; and telephony offerings, among others. More information about euro909.com is available at http://www.euro909.com/about.html.
Except for historical information contained herein, this news release contains forward-looking statements that are dependent on risks and uncertainties including such factors, among others, as the pace at which new markets develop, the impact of competition and the company's ability to implement timely responses to market conditions.
Further information on euro909.com is contained in publicly filed disclosures available through the SEC's Public Reference Branch or from the company's Investor Relations Department.
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