Cinema Force, Ihug merge

Pact values venture at $60 mil

AUCKLAND, New Zealand — Cinema and property giant Force Corp. is poised to merge with leading local ISP Ihug in a deal which values the Internet service provider at more than $60 million.

The new company will be named Ihug and will begin trading from April 1, subject to approval from Force shareholders.

Barely five years old, Ihug (for Internet Home Users Group) has been the most meteorically successful ISP, with 100,000 subscribers in New Zealand and Australia.

It has recently branched out into providing cut-rate long-distance telephone service and digital pay TV.

Force, a partner with Australia’s Village in ownership of more than half of the country’s cinemas, also runs screens in Fiji and Argentina.

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 Digital News from Variety

Loading