Flextech inks IFE deal

Flextech, the British cable and satellite TV company, has signed a deal with Intl. Family Entertainment to take a 39% stake in the U.K. version of IFE’s Family Channel, which is due to launch this fall.

Under terms of the deal, the Children’s Channel (TCC), which is 50.1% owned by Flextech, will operate with the development of the Family Channel across Europe.

At the same time, Flextech announced that the Children’s Channel has entered a new joint venture with another U.S. firm, Quantum Intl., to create a home shopping service for broadcast throughout Europe via the Astra satellite. Quantum Intl. is a wholly owned subsidiary of National Media Corp.

The infomercial service will transmit in the unused night hours of TCC’s Astra transponder, from 2 a.m. to 10 a.m. Monday through Saturday, and 2 a.m. to 9 a.m. on Sunday. It will broadcast in four languages — English, Dutch, German and French.

Flextech also confirmed Wednesday that it had signed a contract for the Children’s Channel, which currently transmits in the clear, to be scrambled as part of the BSkyB mini-pay package of channels, due for launch this fall. This will earn valuable new subscription revenues for all seven channels involved.

All these announcements came as Flextech revealed a pretax loss of T1.1 million ($ 1.7 million) for the 10-month period to Dec. 31, 1992. Early last year the company sold its core oil business for T55 million ($ 84.7 million) to concentrate on its TV interests, which include a 49.5% stake in the small British cable operator IVS, and 20% of program distrib Hit Entertainment.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety

Loading