News blog

One Media IP

• BY: Andrew Hore |
• POSTED: 18/06/2013 |

Audio and video rights acquirer One Media IP Group has acquired the rights to the nineties version of The Adventures of Skippy.

One Media IP acquired 38 episodes and a feature length edition. The company has also bought Alien Autopsy content and more than 400 hours of music documentaries. All these rights cost an initial $100,000 plus ongoing royalties.

In the six months to April 2013, revenues increased from £1m to £1.33m, while pre-tax profit excluding flotation costs improved from £205,000 to £263,000. An interim dividend of 0.078p a share was announced.

Audio still accounts for 95% of revenues but film and video will become increasingly important.

Cash flow is strong, helped by a $2.25m pre-payment from digital distributor the Orchard. A further $250,000 is payable in June. Net cash was £1.92m at the end of April 2013 and this will help it finance further rights acquisitions. One Media IP can now buy much larger catalogues that already have significant revenues.

At 9.88p a share, One Media IP is valued at £6.32m. One Media IP switched from ISDX to Aim on 18 April and a placing at 8p a share raised £700,000, or £530,000 after expenses.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2013_45.pdf