GBP2.2m Funding Round Completed to Expand Filmnight and Saffron Digital

GBP2.2m Funding Round Completed to Expand Filmnight and Saffron Digital

LONDON, July 23/PRNewswire/ -- Harmony Media Group, the newly formed parent company of Filmnight Digital
and Saffron Digital has secured GBP2.2m in a funding round designed to
further develop the digital propositions of both operating companies. The
funding comes from equity investment company Beringea Capital, along with an
additional investment from existing investors NewSmith Capital and Duet Asset
Management.

Filmnight Digital is a leading provider of digital film publishing
solutions with a growing client list including Vodafone, T-Mobile, Trinity
Mirror and EMAP. Over the last four years Filmnight Digital has forged
commercial relationships with international film studios to provide its
clients with a 'one-stop-shop' for film related content and services. Their
sites attract over 1 million unique visitors per month.

Saffron Digital has developed a converged content delivery platform that
enables content owners, brand owners and mobile operators to deliver a rich
experience for their consumers across mobile and web. This state-of-the art
platform includes market-leading services, such as a video on demand solution
allowing consumers to access their digital files across mobile and online.
Current Saffron Digital clients include Disney Mobile, IPC Media, Zone Media,
T-Mobile, O2 and Vodafone.

Harmony Media Group (HMG) has also strengthened its management structure
to drive the company's growth with the appointment of former advertising
executive Eric McClean as its new Chairman. Shashi Fernando moves up to the
position of CEO of Harmony Media Group, and David McDonald is appointed as
Managing Director across both Filmnight Digital and Saffron Digital.

Shashi Fernando, CEO of HMG commented, "This round of funding will allow
Harmony Media Group to accelerate our plans for delivering innovative
technical solutions, keeping us and our clients at the forefront of content
and service delivery in the digital marketplace. We believe that this
commitment will strengthen our existing relationships with market leading
businesses and help forge new relationships in the future."

Source: Harmony Media

For enquiries dealing with the digital businesses of HMG, contact Shashi Fernando at shashi.fernando@filmnight.com or call +44-(0)207-404-6333 and ask for the Press Office.

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