RealTime IT News

iNEXTV Takes Stake in German Internet TV Company

iNEXTV Corp. Tuesday acquired a minority interest in TV1 Internet Television of Munich, Germany with the option to further increase its ownership.

TV1 Internet Television is Germany's leading Webcaster and one of the foremost Internet video sites in Europe.

"TV1 is a leader in the European Internet video industry and our agreement will allow us to expand the scope of programming and improve streaming media technology," said Edward J. Bramson, Chairman of Ampex Corp. "Our relationship with Germany's leading Internet video site will give iNEXTV unprecedented access to the 100 million German-speaking people of Europe."

iNEXTV will begin construction of its previously announced European Internet video facility in Berlin in the new year. The new facility will be shared with TV1 and will be available to iNEXTV affiliates.