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Invesco 1 to 5 Year Laddered All Gov Bond Index ETF | NEO:PGB | NEO | Exchange Traded Fund |
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RNS Number:9257T Pilat Media Global PLC 07 January 2004 Press Release 7 January 2004 Pilat Media Global PLC ("Pilat Media" or the "Company") Agreement to end royalty payments to British Sky Broadcasting Group PLC Pilat Media Global plc (AIM: PGB) the London-based supplier of business management software to broadcasters around the world, today announces the signing of the agreement with British Sky Broadcasting Group PLC ("BSkyB") bringing to an end five years of royalty payment to BSkyB on the sales of Pilat Media's product, IBMS (Integrated Broadcast Management System). This new agreement is in line with the original 1998 agreement between BSkyB and Pilat Media, which granted to Pilat Media the right to exploit commercially the system it had originally developed for BSkyB, in return for royalties. These royalties were 11% of the Company's revenues in the business areas covered by the 1998 version of IBMS (content programming, media and channel management), excluding revenues from the newer advertising sales and traffic modules that were funded by Pilat Media. In 2001, 2002 and in the first half of 2003 these royalties represented 9.1%, 6.8% and 10.9% of the Company's overall revenues, respectively. Following this new agreement, no further payments will be incurred with effect from 4 September 2003. Commenting on the agreement with BSkyB, Avi Engel, Chief Executive of Pilat Media Global plc, said: "We are pleased that we have reached a quick and amicable conclusion with BSkyB to cease the royalties, this was enabled by the fact that IBMS has progressed so much since we first developed it for BSkyB, reducing the similarity with the original code below the agreed threshold that would have warranted continued royalties. The elimination of the royalty payments from our overheads will benefit the net returns of the business. "We remain grateful to BSkyB as by feeding their progressive ideas and rich functional requirements into the system's original design, we had the opportunity to create a leading edge product." - Ends - For further information: Pilat Media Global plc Avi Engel, Chief Executive Officer, Tel: +44 (0) 20 8782 0700 Martin Blair, Chief Financial Officer mblair@pilatmedia.com Shore Capital Alex Borrelli / Jonathan Nelson Tel: +44 (0) 20 7408 4090 alex.borrelli@shorecap.co.uk Media enquiries: Bankside Henry Harrison-Topham / Heather Salmond Tel: +44 (0) 20 7444 4140 henry.ht@bankside.com Notes to Editors: Pilat Media's IBMS is a comprehensive software system for managing the business of broadcasting. IBMS integrates and streamlines broadcasters' programme content, ad sales and traffic management operations to increase business efficiency. IBMS enables broadcasters to lower operational costs, speed time to market for new revenue streams, and centralise management of key processes. It strengthens cross-departmental collaboration, improves client responsiveness and enables more informed business decisions in real time, creating strategic advantage and delivering a rapid return on investment. Pilat Media is a five-year old, a hundred strong UK software company, now an independent public company following its successful demerger from Pilat Technologies International and flotation on the Alternative Investment Market of the London Stock Exchange early last year. The IBMS system was originally developed and successfully implemented by Pilat for BSkyB, to support their fast growing multi-channel programming needs. Pilat Media was established in 1999 to further develop and market the system as a generic product. IBMS's scope was subsequently more than doubled by adding the adverting sales functionality in partnership with Network Ten. Since then Pilat Media has rapidly established itself as a rising force in the market for business management software for broadcasters. Today, Pilat Media's software solutions have been selected by over 25 broadcasters around the world, most of which are outside its UK base. They represent a wide spectrum of operational/ business models, organisational size and transmission technologies - digital and analogue, on terrestrial, cable and satellite platforms. Clients, in addition to those mentioned above, include BSkyB (UK), five (UK), Fox Kids (Europe), digital media centre (Europe), TVNZ (New Zealand), Network Ten (Australia), Sky TechCo Partners (Latin America), Discovery Communications Inc. (International), National Geographic Channels International (USA), and Playboy Enterprises, Inc (USA). Only a month ago the Company announced a large strategic contract, with CTV, Canada's largest privately owned network and station group, worth $17 million in license and upfront implementation fees; another important contract, with Measat of Malaysia (known there under the brand "Astro"), was announced earlier this week, being the Company's first major Asian client. This information is provided by RNS The company news service from the London Stock Exchange END MSCDGGGMNVMGDZM
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