LONDON (Thomson Financial) - Motive Television PLC said it has jointly launched an independent
TV production company, Rumble TV Ltd, which will target the UK factual entertainment market.
AIM-listed Motive Television said it will provide up to 400,000 stg in working capital and development funding for Rumble TV, which is a 50:50 joint venture between Motive and former Visual Voodoo head of programmes Tony Moss.
Motive has the option to buy the shares in Rumble TV belonging to Moss and his deputy, Ben Devlin, for up to 10 mln stg at any time after the end of the fifth year of the joint venture and would expect to exercise this option should Rumble TV reach targeted levels of profitability.
The launch of Rumble TV marks the establishment of the fifth production company at Motive Television, the release said.
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