Corrected: Virgin Grabs 9.9 Percent Share Option In TV Gamer NetPlay

imageVirgin Media (NSDQ: VMED) has bought taken a 9.9 percent share option stake in AIM-listed interactive gaming company NetPlay TV as part of a deal that gives NetPlay the rights to produce VMED’s Challenge Jackpot gaming website, TV channel and online games until 2013. The TV channel is currently available on Virgin On Demand Virgin Media TV, Sky and for three hours a day on Bravo and Virgin1, both available on Freeview. The company will expand the brand’s online and mobile games offering as well develop its own SuperCasino.com, Bingos.com and Eurotelemillions brands.

Also as part of the deal, NetPlay will acquire Two Way Gaming, a JV between Two Way Media and US games company Win Gaming which currently runs Challenge Jackpot’s games. NetPlay will take over its 16,000 registered players and account balances, which will push its monthly betting takings to more than £45 million. Two Way shareholders will receive £2 million — which will be split between majority shareholder Ingenious Media Active Capital and Win Gaming. Two Way Gaming MD Guy Templer and a number of his sstaff will join NetPlay as a result. More after the jump… Release.

As it invests in interactive gaming, VMED is at the same time selling off its content division: after much rumour, VMED has now issued a sales prospectus for what remains of its Virgin Media TV unit, which includes Living TV, Bravo and digital ad sales department IDS, as Media Week reports. It is thought the company’s 50 percent stake in the BBC Worldwide JV UKTV will be sold separately, pending the resolution of private and public debates on the future of Channel 4. A price tag of £500 million was mooted earlier this year when VMED appointed UBS to conduct the sale and VMtv CEO Malcom Wall departed, but instead last week the company opted for a piece-meal divestment and sold its Sit-Up TV shopping channel business to German investors for an undisclosed sum.

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