Cloud-Based TV Service Magine Secures Impressive New Financing Round

Cloud-Based TV Service Magine Secures Impressive New Financing Round

STOCKHOLM, July 3, 2013 /PRNewswire/ --



Cloud-based TV operator Magine (http://www.magine.com) announces today that it has
secured a further round of financing that will enable the company to drive forward the
expansion of their recently deployed OTT television delivery service.



Magine founders, Michael Werner, Matthias Hjelmstedt, Erik Wikstrom, Xavier Ritort and
Hakan Tranvik have succeeded in raising an impressive $19 million through an agreement
signed with a group of Swedish and international investors.



The agreement will mean that the international rollout of the platform will accelerate
considerably. The first international launches will take place in the key TV markets of
Germany and Spain, only a few months after the First Edition of Magine went live in
Sweden.



On the strength of this fundraising round, Magine predicts that the service will be
available to viewers in at least five further markets before the end of the year.



Commenting on the new financial support, Magine Chairman Michael Werner stated: "
Magine is not just another TV platform, but a totally new way of accessing and consuming
content. It is a subscription service that was devised to make viewers come back to
watching TV and this is why broadcasters and content providers are very keen to adopt the
service. Magine helps them create new forms of monetizing whilst respecting the current
rights chain. Our investors recognized immediately that the huge potential for content
discovery and social interaction among viewers thus generating new revenue streams "



In Sweden Magine hosts some of the world's best known brands and channels such as
Discovery, CNN International, BBC, Eurosport, National Geographic, Nickelodeon and Cartoon
Network as well as home national broadcasters SVT and TV4. The company is in advanced
negotiations with a number of other major international media and entertainment groups and
further announcements are expected later this month.



In April Magine was introduced to the international television and content community
at MIPTV, host to one of Europe's biggest international entertainment industry gatherings.
The service was hailed as the highlight of the event by media commentators, journalists
and industry figures alike.



About Magine:



Magine is TV reinvented. It is not TV through a new device but a service that offers
the ultimate freedom of watching live, start over and catch-up television from all
channels and on all devices and at all time in line with existing rights agreements It
delivers high speed, high-quality and DRM protected images via any available internet
connection.



Magine is currently available on Apple devices and in Samsung smart TV's. More TV
platforms and Android tablets are on the way.



Magine. Television as it should be.



For further information please contact:



Michael Werner, Chairman - michael.weber@magine.com



Mattias Hjelmstedt, CEO - mattias.hjelmstedt@magine.com



Press enquiries: Laura Lemens Boy - laura.lemens-boy@magine.com




Magine

CONTACT: For further information please contact: Michael Werner, Chairman - michael.werner@magine.com - Mob: +46-735-00-82-66. Mattias Hjelmstedt, CEO - mattias.hjelmstedt@magine.com - Mob: +46-70-480-01-25. Press enquiries: Laura Lemens Boy - laura.lemens-boy@magine.com - Mob +33-6-22-513-713


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