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London, UK/Ingolstadt, Germany, 25.03.2009: Media-Saturn-Holding GmbH has acquired a controlling interest in 24-7 Entertainment, Europe’s leading B2B digital distribution provider specializing in online and mobile distribution of music, music video and ringtones. The company, which was founded in 2000, operates 41 download stores in 13 countries and has license agreements in place with over 12,000 labels including all the major record companies and independent labels.
24-7 Entertainment will remain under the management of its founders, Frank Taubert and Carl Nielsen and operate as an independent business unit within the Media-Saturn Holding Group. The company will continue to function as a turnkey, one-stop-shop for the seamless, distribution of digital media offering its services to major retailers, telecommunications companies, hardware and software manufacturers, record labels and media companies. In addition to mediamarkt.de and saturn.de, TDC (DK), CDON (MTG Group - Scandinavia) and 3 Hutchison (AT) are among 24-7 Entertainment’s prestigious clients.
Roland Weise, CEO of Media-Saturn-Holding GmbH: “Music and entertainment content plays a major role in our success. Our shareholding is intended to help grow 24-7’s digital footprint, open up new areas of business and at the same time allow us to profit from the company’s competence and know-how with regard to the further development and implementation of the Media-Saturn Group’s e-commerce strategy in this area.”
On a strategic level 24-7 Entertainment has plans to expand into other territories and enhance the range of services it offers.
”We are very pleased that such a major player as Media-Saturn understands the growth potential of the 24-7 Entertainment digital distribution platform. Being part of a major consumer electronics entity will afford us many opportunities for expansion including the convergence of digital entertainment services to the home and portable environment, which we believe will be greatly beneficial to all of our loyal customers”, said Frank Taubert, CEO, 24-7 Entertainment.