Seven Channels Into Evolution
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The Seven Television Network has taken a 12.5 per cent stake in information provider Evolution Technologies to increase the scope of its online and broadband content creation and distribution company, i7.
C7, which produces channels for pay television and forms a large part of i7's business portfolio, has gained 20 million shares through the investment. The company will supply subscription television channels for distribution by Evolution.
As part of the deal, C7 will initially supply its pay TV sports channel and up to three additional Olympic Games channels. It is planning further channels over the next year which will also be distributed by Evolution Technologies.
Evolution is establishing a high-speed network in home units and cluster housing capable of delivering Internet and pay television products requiring significant bandwidth.
Managing director of i7 Andrew Cohen said the deal represented a significant step forward in the company's development. "From next month, i7 will create significant content for the Web," he said. "However, the company's primary focus in the development of content for broadband delivery - regardless of the platform."
Over the past six months, i7 has secured similar shareholdings and partnerships with a number of content creators, including Channel E, Wemyss, Demand Ventures, Highball, the AFL and News Limited.