3 July 2015
One Media iP Group
Plc
("One Media" or
"the Group" or "the Company")
Completion of final deferred
payment for the Point Classics deal, and Notice of the
half-year results announcement date
One Media iP Group Plc (AIM: OMIP), the digital media content
provider, which consolidates, exploits and monetises intellectual
property rights around music and video, is pleased to announce that
it has completed the contractual terms regarding the acquisition of
the ‘Point Classics’ catalogue of rights it acquired from Telos
Holdings Inc. (“Telos”) on 2 July
2014 and has now paid in full the deferred consideration of
USD$160,000 to Telos of Los Angeles, USA, the vendor.
The deal, which comprised over 4,000 classical recordings and
all corporate logos, registrations and distribution rights, was
signed on 2 July 2014 for a total
consideration of USD1,600,000 which
has been entirely satisfied from existing cash resources.
The Company also confirms that it will announce its half years
trading results on 27 July 2015.
One Media also greets with enthusiasm the new Apple Music
initiative. We are on record as saying that streaming will be the
future of music monetisation and despite the ‘press’ surrounding
the various ‘free periods’ being offered to new consumers of the
service, we believe that this will benefit the Group in the longer
term and add value to the One Media catalogue as the service gains
traction.
For further information, please
contact:
One Media iP Group Plc
Michael Infante |
Chairman and Chief
Executive
Tel: +44 (0) 175
378 5500 |
One Media iP Group
Plc
Alice Dyson-Jones |
Brand &
Communications Manager
Tel: +44 (0) 175 378 5501 |
Cairn Financial Advisers
LLP
Liam Murray / Jo Turner |
Nominated Adviser
Tel: +44 (0) 20
7148 7900 |
Charles Stanley Securities
Limited
Mark Taylor |
Broker
Tel: +44 (0)
20 7149 6000 |
Notes to Editors:
One Media is a digital music and video rights owner. The
consumer led but B2B (Business-to-business) operation looks to
exploit its catalogue of over 250,000 music tracks and over 7,000
hours of video by recompiling the content for sale through over 600
digital music and video stores worldwide. The Company has a team of
Creative Technicians who digitize the content, create the metadata
and re-compile and prepare the digital music & video releases
using bespoke in-house software. Additionally, One Media
makes its library of content available for TV shows, movies,
adverts, games and websites. One Media operates an online sync
database system that enables music supervisors to explore the
library and select tracks for music briefs. One Media focuses
on music performed by well-known artists from every genre,
including; pop, rock, reggae, R&B, children's music, karaoke,
jazz, soul, blues, rap, hip-hop, gospel, world-music, plus stand-up
comedy, spoken-word and over 1,000 hours of classical music.
One Media is eligible for Enterprise Investment Schemes ("EIS") and
Venture Capital Trusts ("VCT").