UK Online Sports Firm PremierTV Bought By Industrialist Len Blavatnik For $50 Million

UK-based PremiumTV, which operates websites for clients ranging from Britain’s Chelsea soccer club to Warner Music, has been bought by billionaire industrialist Len Blavatnik, for about $50 million. Blavatnik’s Access Industries has bought the company from PTV Inc., a company managed by turnaround specialists Quest Turnaround Advisors, reports Reuters.

PremiumTV says it hosts more than 150 sites and says it is the largest streamer of live events in Europe…It recently signed a deal with Virgin Media to produce broadband programming of British soccer matches. Quest bought PTV 2002 from Virgin’s predecessor company, NTL..back then it had $61.5 million of liabilities and faltering deals with UK football clubs…now it profitable, Quest said. Some more details in this Telegraph story as well.

Access recently did a deal with Warner Music and SonyBMG to open up a digital music JV in Russia.

Robert addst: With BSkyB having lost its monopoly on Premier League soccer and rights to other competitions changing hands, companies with little rights tie-ups on emerging platforms could find favor. Premium TV has long powered online video features for individual soccer clubs – with platforms like BT Vision and Setanta now eager to deliver soccer programming to customers over even IPTV (essentially broadband internet), Premium TV could find new partners rapidly.

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