This has been widely reported today on the Financial markets. As I suggested when I wrote about ScreenFX last week, Avanti Screenmedia are a company that need to focus on their core strengths. Here’s my two penny worth…
Their music offering to the leisure industry is not the best – the music operators should be circling to take Magnetic and MVN off of their hands. With 913 venues (and 4,100 screens) it’s a good sized network and should be bringing in some decent size monthly music revenues (mind you it is this revenue that might be keeping them afloat).
Shopping Mall TV is one of the largest Mall networks in the UK with 34 malls and a footfall of 7.8 million per week it is not insignificant. Avanti have a very good infrastructure for media sales, some good sales people on board and as previously suggested should bid for the media sales tender recently put out by ScreenFX (for MallFX). The sales combination of Shoppping Mall TV and MallFX would make a lot of sense.
In retail, Avanti have SparTV, the recently announced deal with Marks Spencers for Kiosks, some small trials in Boots and Woolworths. All very disparate and I am sure all difficult to sell on unless one is a retail / convenience specialist.
The Setanta Sports deals is I think the jewel in their crown but I am unsure of the exact revenue that comes through from this deal.
With a market capitalisation now of just over UK PDS 1 Million I think they might be right to be be bought out completely. A digital music specialist might be interested – just to get hold of the Magnetic monthly revenue stream.
LONDON (Thomson Financial) – Avanti Screenmedia Group PLC said it is
urgently seeking additional funding, as it is currently reliant on its
Avanti Screenmedia urgently seeking additional funding
LONDON (Thomson Financial) – Avanti Screenmedia Group PLC said it is urgently seeking additional funding, as it is currently reliant on its overdraft facility, due to lower-than-expected sales in the period to June 30.
The implementation of the new strategy — following the demerger from the satellite networks business — also compounded the situation, Avanti said in a trading update.
However, the in-store digital solutions provider added that trading is showing signs of improvement.
‘The company will update shareholders of further progress in due course,’ the company said.