Media-Saturn takes over 24-7 Entertainment
German electronics retailer Media-Saturn has acquired a controlling interest in 24-7 Entertainment. Financial details have not been revealed.
The service provider, founded in 2000, offers companies a download infrastructure for the distribution of digital content for mobile phone and internet users, including music, music videos and ring tones. The customers, which can offer the services under their own brands, comprise retailers, telephone companies, software and hardware manufacturers, internet providers, record labels and media groups, including TDC, Modern Times Group and 3 Hutchison.
41 download portals in 13 European countries are currently using 24-7 Entertainment’s infrastructure. Content is provided by over 12,000 partners, including all major record companies and independent labels. “In the coming years the importance of digital distribution in the entertainment market will grow steadily,” said Roland Weise, CEO of Media-Saturn.
With its engagement in 24-7 the company says it wants to encompass new business fields and thereby profit from the service provider’s specialist knowledge and experience. Over the forthcoming months 24-7 wants to develop its service offer and expand to further countries.