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Pilat Media Global

  • BY: Andrew Hore |
  • POSTED: 21/11/2011 |

Pilat Media Global has ended its dispute with Fox TV but it does not appear to have come out of it that well.

The broadcast management software provider will receive $850,000 (£542,000) from Fox and its own insurer. That is a lot less than the £2.82m impairment charge taken at the interim stage.

All claims have been withdrawn but the settlement is confidential. Fox was seeking $18.5m in damages and Pilat Media claimed $5.8m for breach of agreements. Fox wanted to stop using Pilat Media’s software and may have got its wish but it is not mentioned in the announcement.

Fox accounted for 3% of Pilat Media’s 2010 revenues of £21.9m.

Shares in Pilat Media rose 2p to 32p, valuing the company at £19.2m. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2011_26.pdf

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