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Motive Television

  • BY: Andrew Hore |
  • POSTED: 06/03/2008 |

Motive Television is launching a new factual entertainment TV joint venture.

Motive is investing £400,000 in the joint venture, which is called Rumble TV.

Motive’s executive chairman Mick Pilsworth knows the management of Rumble TV, Tony Moss and Ben Devlin, from the time they worked with him at Chrysalis TV.

Motive can buy out the founders after two years for up to £10m – depending on performance. Motive says it will exercise this option if Rumble TV meets targeted levels of profitability. If it does then this would represent a good return on the original £400,000 investment for its initial 50% stake.

Last November Motive raised £605,000 via a placing at 0.7p a share. At the end of June 2007 Motive had £1.46m in the bank. Some of that cash is likely to have gone on working capital for its other TV ventures but it still leaves it in a strong financial position. The shares rose 0.23p to 0.85p, valuing Motive at £1.66m.

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