TVNZ acquires stake in Hybrid TV Services

TVNZ acquires stake in Hybrid Television Services; TiVo to launch in New Zealand

TVNZ brings TiVo media device to New Zealand,
strengthening free-to-air digital TV

SYDNEY, Australia, and AUCKLAND, New Zealand, 26 March, 2009 – TVNZ today announced the acquisition of a 33% stake in Hybrid Television Services (ANZ) Pty Ltd, the exclusive licensee of TiVo® in Australia and New Zealand, from Seven Media Group. Seven Media Group retains the remaining 67% of Hybrid Television Services.

Hybrid Television Services launched TiVo in Australia in July 2008. TVNZ’s investment will support the launch of the media device in New Zealand, scheduled for later this year.

The TiVo media device allows viewers to receive all free-to-air digital TV channels as well as broadband content, services and games. Compatible with New Zealand Freeview HD broadcasts, TiVo will enable viewers to record their favourite shows, pause and rewind live TV, watch movies on demand and access services such as pizza ordering, shopping and weather forecasts through their television.

TVNZ’s investment has prompted the formation of a Board of Directors at Hybrid Television Services, chaired by James Warburton, Chief Sales and Digital Officer for Seven Media Group. Rick Ellis, CEO of TVNZ, Rodney Parker, CFO of TVNZ and Bruce McWilliam, Commercial Director for Seven Media Group complete the board.

Rick Ellis, CEO of TVNZ commented; “The TiVo media device is a global leader and our investment in Hybrid Television Services is an investment in the future commercial success of TVNZ. It marks a further step in our transition from a traditional broadcaster to a multi-platform digital media company with diverse income streams, operating in the Australasian market.”

James Warburton, Chief Sales and Digital Officer for Seven Media Group commented; “It is rewarding that after surveying the market a broadcaster of the calibre of TVNZ has agreed that TiVo is the foremost product to further its digital initiative in New Zealand. We are proud to have them as our partners in this Australasian business. TiVo experienced outstanding Christmas sales and continues to lead the category in DVR sales in Australia. This investment from TVNZ and their involvement on the board of Hybrid Television Services will ensure that the company is uniquely positioned for success in both countries.”

Tom Rogers, President and CEO of TiVo Inc. added; "Hybrid TV has achieved great things and exceeded expectations with the launch of the TiVo media device in Australia, further demonstrating the advanced interactive capabilities of TiVo. Now with the TVNZ investment, we’re thrilled to be working with the number one broadcaster in both the Australian and New Zealand markets."

ENDS

© Scoop Media