VIDEO ON DEMAND LEADER INTERTAINER RECEIVES $15 MILLION IN FUNDING
Consumer Electronics Manufacturer Thomson Leads The Round And
Microsoft Increases Stake
CULVER CITY, Calif., January 22, 2002 - Intertainer,
the leading entertainment on demand broadband service, today announced
the first closing of a Series E round of funding. The company has
received $15 million in total additional funds from Thomson Consumer
Electronics and Microsoft Corp. Thomson, a new equity partner for
Intertainer, leads this round, while Microsoft increases its existing
investment in the company.
"Bringing Thomson in as a new equity partner to join Microsoft,
Sony, Intel NBC and our other investor partners demonstrates that
Intertainer is at the center of the converging worlds of technology
and entertainment," said Intertainer CEO Jonathan Taplin. "Increasing
our working capital at this critical time will allow us to work
towards long-term profitability while ensuring stability and development
in the near term."
Recently, Intertainer expanded its service into the top 35 broadband
markets in the country, making it the first widely deployed video
on demand service featuring premium Hollywood content. In addition,
Intertainer has also expanded its digital cable deployments with
leading operators Comcast and Adelphia Communications.
The Intertainer library features more than 70,000 hours of content,
including films from major Hollywood studios and a variety of television
and music programming from more than 70 premium content providers.
Intertainer users have instant access to more than 700 hours of
programming at any given time, with full VCR functionality, allowing
them to stop, fast-forward and rewind their selections. Intertainer
content partners include Universal Pictures, Warner Bros., Dreamworks
SKG, Artisan Entertainment, NBC, A&E Television Networks, Discovery
Channel, EMI Music, ESPN, PBS, Warner Music Group and numerous others.
Using its flexible, interoperable Digital Entertainment Service
Platform, Intertainer (www.intertainer.tv)
delivers the largest selection of movies, music videos and television
programming on-demand instantly to your PC or TV. The service is
delivered over digital cable and Internet Protocol systems and features
content from unprecedented partner relationships including Universal
Pictures, Warner Bros., DreamWorks SKG, A&E Networks, NBC, Discovery,
ESPN, Pearson Television, Warner Music, EMI Music and many others.
Enhanced TV functionality, interactive advertising and personalization
features round out the Digital Entertainment Service Platform offering
and the Intertainer experience. Strategic partners include Thomson,
Comcast, Intel, Microsoft, NBC, Qwest and Sony.
# # #
Contact: Louise Rasho, 310-895-2112, email@example.com