4 Aug 2008 11:54
FOR RELEASE
4 August 2008
Avanti Screenmedia Group plc
("Avanti"or "the Company")
New Setanta Contract: Additional Advertising Sales Rights
The Board of Avanti, the AIM listed leading digital screen media specialist, is pleased to announce that, following a successful first season of advertising around Premiership Football, the Company has signed a new 3 year agreement with Setanta Sport Limited ("Setanta") to sell airtime and associated advertising and sponsorship on its sports channels into pubs and licensed premises in the UK.
The deal which runs up to and includes August 2011, includes the current and future broadcast rights including, but not limited to, the English Premier League, Scottish Premier League, FA Cup, England Internationals, World Cup 2010 qualifying games, UEFA Cup, Indian Premier League Cricket, Boxing and the Ultimate Fighting Championship. Under the agreement, worth an expected £8 million over the three years, the net contribution to Avanti after revenue share and agency commission is estimated to be £1.6 million over the same period.
Avanti is still seeking to raise further funding, although the short term working capital position has been secured from the recent investment as announced on the 18 July 2008.
Commenting, Simon Rees, Chief Executive of Avanti said:
"We are particularly pleased about today's announcement as it demonstrates that our strategy of developing and extending existing relationships is proving successful. Setanta is a key client and we are delighted to extend and deepen our relationship with them. This is a reflection of the significant commercial success that Avanti has delivered for Setanta in the first year of their Premiership coverage."
Ends
Enquiries:
Avanti Screenmedia Group plc 0207 902 2345
Simon Rees, CEO
Charles Stanley Securities 020 7149 6000
Nominated Adviser
Russell Cook/Freddy Crossley
Bishopsgate Communications Limited 020 7562 3350Jenni Herbert