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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Responzetv | LSE:RETV | London | Ordinary Share | GB00B18X8Z87 | ORD 16P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4060V ResponzeTV PLC 24 April 2007 ResponzeTV PLC Launch of 'Showcase TV' a New 24 Hour UK Home Shopping Channel in Joint Venture with JML Direct Limited ResponzeTV PLC announces that its US subsidiary, Reliant International Media LLC ('Reliant'), has entered into a joint venture with JML Direct Limited ('JML) for the launch of a new 24 hour UK home shopping channel, to be called 'Showcase TV'. The new channel is to be broadcast on channel 632, which is in prime position, near the top of the shopping genre on the Sky Digital Platform in the UK, and is being designed to provide UK consumers with the opportunity to buy US and international home shopping products. The arrangements provide for Reliant to introduce products for sale on the channel, to provide related films and infomercials for broadcast and to provide sourcing for products for sale on the channel. JML is to provide the airtime for the channel, all administration, logistics and related services for the business and any required financing for the business. The profits of the business, after agreed deductions for costs and overheads, are to be shared on a 50/50 basis. The new channel is scheduled for launch on 28 May 2007. Kevin Harrington, Chief Executive Officer of ResponzeTV PLC, said: 'The joint venture provides an exciting opportunity to launch Reliant's products in the UK in a prime position on the shopping genre of the Sky Digital Platform. We are very pleased to have been able to team up with such an experienced, efficient and skilled operator in TV retail promotions as JML Direct Limited. The launch of the new channel is a major step in the continuing development of the ResponzeTV business, providing prime distribution for our products in such a major home shopping market as the UK. The channel is expected to have an early positive impact on the results of the ResponzeTV group.' John Mills, Managing Director of John Mills Limited, said: 'We are delighted to have been able to join with Reliant and have available to the channel Reliant's US and international product development, show production and product sourcing skills. The combination of our respective strengths is anticipated to provide the UK home shopping consumer with an exciting range of products at competitive prices. We see this as an excellent way to maximize value from our ownership of epg channel 632.' For further enquiries contact: Steven Goodman, Executive Chairman, ResponzeTV PLC +852 2295 1161 24 April 2004 Notes for Editors ResponzeTV PLC, headquartered in Hong Kong and listed on the AIM Market of the London Stock Exchange (LSE:RETV), is a t-commerce company with principal operations in Greater China and the USA. In January 2007, it acquired Reliant International Media LLC, a Florida, USA based TV home shopping Company and in March 2007 it acquired Famous Discoveries, another home shopping company, also based in the USA. Its other business is the sourcing of wholesale products for sale to TV home shopping operators, with a focus on customers in Europe, the USA and North Asia. JML Direct Limited is a privately-owned company, founded by John Mills, whose principle business is the sale of products through in-store screen promotions in UK retail outlets, backed by national TV advertising campaigns. Its promotions can be found on virtually every high street in the UK and in many of the UK's leading retailers. It currently operates a TV home shopping channel, JML Direct TV, on Channel 657 on the Sky Digital platform and recently acquired Channels 631 and 632 on the Sky Digital Platform. This information is provided by RNS The company news service from the London Stock Exchange END JVEKGGZDGDVGNZM
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