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Home »Publications »Industry magazines »Communications magazines »Multichannel News »March 1996 »
Recently viewed:Article: RZD SIGNS COOPERATION AGREEMENT WITH RUSSIAN TECHNOLOGIES.

Flextech absorbs Family's U.K. assets. (Flextech PLC; International Family Entertainment Inc.)

Multichannel News
March 25, 1996 |Mahoney, William |Copyright
COPYRIGHT 2009 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights or concerns about this content should be directed toCustomer Service.
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    <a href="http://www.highbeam.com/doc/1G1-18261424.html" title="Flextech absorbs Family's U.K. assets. (Flextech PLC; International Family Entertainment Inc.) | HighBeam Research">Flextech absorbs Family's U.K. assets. (Flextech PLC; International Family Entertainment Inc.)</a>

LONDON - International Family Entertainment ended months of rumors about its future position in Britain last week by announcing that it has exchanged its U.K. channel and its British studio for about a 5 percent stake in Flextech plc.

IFE will get [pounds]27.5 million in convertible, redeemable, nonvoting Flextech stock and [pounds]3 million in cash (a total of $50.7 million) for its 61 percent stake in Family Channel U.K. and the Maidstone Studios in England. IFE obtained the latter asset when it acquired TVS Entertainment in 1993 in the MTM Entertainment deal.

"We've traded one valuable asset for another," said Dave Humphrey, senior vice president of investor …

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