RNS Number:9778I
2waytraffic N.V.
03 December 2007


3 December 2007

                                                                                

                      Call TV activities in Western Europe                      


 

The Board of 2waytraffic NV ("2waytraffic" or "the Company") today announces
that, following a review of its Call TV business, it has decided to phase out
the majority of these activities in Western Europe in the short term. As
announced in the summer, Call TV is no longer a core part of the Company's
business. 2waytraffic will increasingly focus on its core skill set of
producing, distributing and exploiting its expanding, high quality catalogue of
entertainment content across multiple platforms and with multiple business
models.


The Company has had a relationship with SBS group of companies ("SBS") over the
last two years under a framework agreement to provide Call TV services in
territories where SBS broadcasts. 2waytraffic has provided Call TV services in
The Netherlands, Belgium, Sweden, Norway, Denmark, Romania and Hungary. SBS
decided recently to halt Call TV operations in The Netherlands and the Company
is also in advanced discussions with SBS regarding the resolution of these
contracts.


The decision to withdraw from Call TV in Western Europe will bring with it
certain re-organisation costs in the current financial year which are expected
to be not more than Euro1.0 million and a write-off of intangible assets expected
to be Euro1.0 million.



Commenting on these arrangements, Kees Abrahams, CEO 2waytraffic, said:


"The business of traditional Call TV in Western Europe has been very difficult
for the Company during the course of this year. The decision to withdraw will
let us concentrate on our core businesses - which for 2waytraffic is the
creation, production, distribution and exploitation of high value entertainment
content across several platforms."


 
 

Enquiries:

2waytraffic
Kees Abrahams/Jonni Abbenhuis             +31 (0) 35 750 80 00


Investec                                  +44 (0) 20 7597 5117
Andrew Craig / Ben Poynter


Financial Dynamics                        +44 (0) 20 7831 3113
Charles Palmer / Nicola Biles



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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