Home » Internet News » UBC MEDIA BECOMES LARGEST SHAREHOLDER IN AUDIOBOO

UBC Media, which reserve multimedia calm to a BBC as good as 250 blurb air wave stations, has struck a income as good as share understanding which will see it turn a largest shareholder in audio-sharing association AudioBoo.

The company, which took an 8% shareholding in AudioBoo for about £45,000 in 2010, has upped a interest to 40.3%.

UBC Media has paid for Imagination Technology’s 33.95% interest in AudioBoo in a share understanding worth £271,000 which will give Imagination a 7.6% shareholding in UBC.

However, Imagination is penetrating to reason a incomparable interest in UBC as good as as partial of a understanding has paid for £141,000 worth of shares, during a brew of 2p as good as 2.75p, to take a sum interest in UBC Media to 9.8%.

The understanding equates to AudioBoo, which lifted £200,000 in latest financier income upon Friday, is worth about £1m.

Simon Cole, arch senior manager of UBC, pronounced which a understanding underlined a company’s pierce divided from air wave as good as TV prolongation in to technology.

The company, which upon Monday reported a detriment of £3.6m for a year to 31 March, pronounced this was driven by a £3m non-cash organization to help a poor write-down upon a worth of a prolongation businesses to £1m.

“We have conviction in a existent prolongation companies though have been not seeking to have any acquisitions in this area, which most people approaching us to,” says Cole. “We’re right away some-more expected to deposit in technology, as good as right away have £3.5m in cash.”

UBC Media additionally voiced which it has been comparison to hoop a tellurian chartering as good as hurl out of a RadioPlayer, a UK internet air wave use corroborated by a BBC as good as a blurb radio industry, in partnership with Imagination.

Cole pronounced which UBC already has letters of vigilant for deals to launch a RadioPlayer in 8 countries – 4 will be theme to chartering arrangements as good as a alternative 4 will see a bespoke internet player built.

UBC Media additionally voiced a understanding to furnish fifteen hours of live TV calm from a Cambridge Folk Festival for Sky Arts, as good as dual hours of outlay for BBC Radio 2.

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