| Wed 10 Oct 2001, 0:00 | | Mih Welcomes New Strategic Shareholder To Mediterr |
|
- Netmed Nv
MIH Holdings Limited
Share code: MHH
ISIN Code : zae000018941
Amsterdam, The Netherlands, 10 October 2001: International subscriber
platforms and software solutions group MIH Limited (NASDAQ & AEX: MIHL)
today welcomed a new strategic shareholder to its Mediterranean pay-
television platform NetMed NV. Antenna T.V. SA (Antenna TV), which owns and
operates the Greek television broadcast network, has agreed to acquire 5%
interest of NetMed NV for the sum of US$12,3 million. Antenna TV has the
option to increase its stake to 15% interest in the two years following the
closing, at fair market value. In addition Antenna TV will become a primary
pay-television programme provider to the NetMed platform. The deal places an
enterprise value of approximately US$400 million on NetMed NV.
NetMed has been operating in Greece and Cyprus since the early '90s and is
the leading pay-television platform in its markets. In December 1999 it
launched Nova, the first digital platform in Greece which has experienced
excellent growth and now has over 70,000 subscribers. Antenna TV will
provide a range of Greek thematic channels for the Nova platform. By
leveraging its extensive library of Greek productions, Antenna will provide
attractive local content for Nova subscribers. The cash injection from
Antenna TV will be invested in the ongoing development of the digital
platform.
Jim Volkwyn, CEO of MIH's subscriber platforms said: "We welcome Antenna TV
to NetMed and look forward to providing our Greek subscribers with an even
richer choice of television viewing. Having Antenna TV as a shareholder will
further enhance the depth of experience and expertise that already exists
within NetMed. Antenna TV is a highly respected and formidable player in
the Greek media market with an excellent track record in broadcast and
programming."
ENDS
About MIH Limited
MIH Limited is listed on both NASDAQ and the Euronext Amsterdam Stock Market
- ticker: MIHL.
The Group's activities are focused on two areas:
1) Subscriber Platforms:
The Group provides terrestrial and cable analog, digital satellite and other
pay-television services to over 2 million households in Africa, the
Mediterranean and Asia. Over 50% of its total pay-television subscriber base
consists of digital subscribers. Across its platforms MIH has secured long-
term rights to premium movies, major sporting events and popular children's
programming, all of which are tailored for the local market.
The Group has established and continues to develop leading internet
businesses in Africa, Thailand and Indonesia.
In June 2001, MIH acquired a 46.5% in QQ, China's leading instant-messaging
service with 18 million active users and 95% share of the China market.
2) Software Solutions:
MIH Limited is the controlling shareholder of Silicon Valley based Open TV,
the world's leading interactive television and media solutions company.
OpenTV builds a complete software and infrastructure platform that enables
digital interactive television and brings on-demand content to other digital
communications devices. OpenTV solutions are crafted to meet the needs of
all digital communications networks and include operating middleware,
content applications, content creation tools, professional services
expertise and strategic consulting.
OpenTV software has been shipped with or installed in more than 18 million
digital set-top boxes worldwide and has been selected by 46 digital cable,
satellite and terrestrial Communications Networks in over 50 countries.
Through its other technology businesses Irdeto Access and Mindport, the
Group provides conditional access, security, provisioning,
protection/insurance, commissioning, Internet/IP technology, content
management, customer care and billing and other related services to channel
and platform operators worldwide.
www.mih.com
About Antenna TV
Antenna is the leading media group in Greece. It owns and operates Antenna
TV, the leading television broadcast network and producer of television
programming in Greece, and Antenna FM, a leading radio station in the
greater Athens area. Antenna has a controlling interest in a publishing
company, Daphne Communications, which publishes 11 consumer and technical
magazines. Antenna also distributes television programming for broadcast to
Greek-speaking audiences aired in Cyprus, the United States, Canada and
Australia. It has recently acquired interests in three Bulgarian media
businesses, including a 100% interest in Nova Television, the leading
private television network in Bulgaria. The company has also begun to
establish a presence in the Internet business in Greece. Since March 1999
Antenna's shares in the form of ADRs have been listed on NASDAQ (symbol
"ANTV) and on the London Stock Exchange (symbol "AEVD").
Disclaimer: This news release contains forward-looking statements relating
to MIH Limited that involve risks and uncertainties that could cause MIH
Limited's actual results to differ materially from those contemplated
herein, including but not limited to, the risk factors detailed in the
Registration Statement on Form F-1 and other documents filed from time to
time by MIH Limited with the Securities and Exchange Commission, as amended.
MIH Limited undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.
Contacts:
Alan Ryall Beverley Branford
Corporate Communications Investor Relations
MIH Limited MIH Limited
+44 (0) 7973 330 846 +31 (0) 23 556 2636
Aryall@mih.net Bbranford@mih.net
Sponsor
Merrill Lynch South Africa (Pty) Limited
