GRIMSBY, Yorkshire and TORONTO, Sept. 22 /CNW/ - Movieola - The Short
Film Channel (Movieola) and propellerTV (Propeller) announced today that
Movieola has reached a definitive agreement to acquire a majority shareholding
in Propeller, a U.K./European-wide satellite channel available to more than
8 million Sky subscribers.
"We are delighted to be able to provide greater access to more viewers,
across more platforms. Movieola's premium short-form programming coupled with
Propeller's strong showing among U.K. and European audiences, makes them a
fitting partner for our international expansion goals and will provide a boost
in exposure for Canadian films and filmmakers abroad," commented Romen
Podzyhun, President and CEO of Channel Zero Inc., operators of Movieola - The
Short Film Channel.
"The opportunity to partner with Movieola is perfect given the growth,
the demand, and the new digital platforms available for high quality short
film content," said Simon Couth, Executive Director, propellerTV.
The completion of the agreement is subject to Board approval by both
companies. Financial terms of the deal have not been released. Movieola and
Propeller expect that the completion of the agreement will occur before the
end of November, 2008.
About Movieola - The Short Film Channel
Movieola - The Short Film Channel presents the very best of action, drama
and comedy films that can all be enjoyed in less than 40 minutes. From
celebrated Academy Award(R) and Film Festival winners, to cult favourites,
Movieola - The Short Film Channel gives viewers an opportunity to experience
exciting, cutting-edge short films. Movieola - The Short Film Channel is a
Channel Zero network.
About propeller TV
Broadcast from Yorkshire, propeller is the first digital satellite
television channel in Europe to screen 100% new and original programming. Seen
on Channel 195 on BskyB, it is available to more than 8 million subscribers
across the UK.
Since its launch in February 2006, propeller's programming has become
widely regarded as among the most creative on the Sky platform showcasing new,
exciting and original television.
Please note: This news release contains certain comments or
forward-looking statements regarding Movieola that are based upon current
expectations and are subject to certain risks, trends and uncertainties. These
factors could cause actual future performance to vary materially from current
expectations. Movieola disclaims any intention or obligation to update any
forward-looking statement even if new information becomes available as a
result of future events or for any other reason.
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