Teutonic music channel to expand
BERLIN — German music channel Viva has announced it will be going public in the spring. The company expects to raise some DM 125 million ($64 million), which it will use to expand its activities eastward.
“We are going in this direction in order to further develop Viva into an integrated media group and to establish broad youth-oriented marketing,” said Viva managing director Dieter Gorny.
The company emphasized that it would be exploiting the Internet as a significant additional outlet.
Viva will start broadcasting in Poland early next year, Gorny added.
The music channel, which launched in 1993, is received in more than 27 million homes and expects revenues of $46 million this year.
Viva shareholders include EMI, Universal and Warner Music Germany, each with 24.9%. Edel Music holds a 16% stake, and Musik im Fernsehen has 9.3%.