GON Galleon Hldgs

TIDMGON

RNS Number : 7014W

Galleon Holdings PLC

24 November 2010

 
 Date:            24 November 2010 
                  Galleon Holdings plc ('Galleon', 'the Company' 
 On behalf of:     or the 'the Group') 
 For release      0700 
 

Galleon Holdings plc

Update

In our statement of 30 September 2010, the Company noted that it was in the very late stages of negotiation with regard to signing some key media deals before the financial year end and that the Board felt confident that the deals it was currently negotiating could be signed in the near future. Following this announcement and the passing of MIPCOM, the Company has not been able to agree acceptable terms on some of these rights deals which have a potential aggregate value to the Company of approximately GBP2 million. New discussions have been initiated for these rights and all other discussions that were taking place as at 30 September 2010 in the media sector are still ongoing.

Further announcements will be issued as appropriate.

Enquiries:

 
 Galleon Holdings plc                          www.galleonplc.com 
 Stephen Green, Chief Executive                Tel: 020 8742 3636 
 
 Cenkos Securities (Nominated Adviser 
  & Broker) 
 Ken Fleming / Beth McKiernan           Tel: 0131 220 9772 / 0131 
                                                         220 9778 
 
 Redleaf Communications                     Galleon@redleafpr.com 
 Mike Ward / Rebecca Sanders-Hewett            Tel: 020 7566 6700 
  / Luis Mackness 
 

Notes to Editors:

ABOUT GALLEON HOLDINGS

Galleon Holdings plc creates and distributes multi-platform branded entertainment properties focused on the emerging markets, in particular China and South East Asia. The entertainment properties are designed to establish a direct, interactive relationship with the viewer.

Television in China reaches approximately 98% of the population of 1.3 billion. Mobile phone penetration is also high, with over 500 million subscribers and with over 300 million people online, China is now the largest online market in the world. Huge TV audiences and growing interactive platform access presents a substantial opportunity for Galleon to benefit from the popularity and demand for interactive entertainment and game shows. China is forecast to become the world's fifth largest advertising market.

In October 2007 Galleon acquired Phoenix, a Hong Kong based media solutions company, which specialises in the provision of interactive broadcast television services that enable broadcasters in China and South East Asia to provide interactive entertainment for audiences to access through TV, online and mobile.

In February 2008 Galleon acquired Yunbo, a mobile service provider in China, strengthening the Company's ability to provide Chinese broadcasters with a complete media solution for multi-platform entertainment. Galleon now has total control over the interactive content, its delivery to the consumer, data capture and the billing process.

Galleon develops entertainment formats for children, families and young adults. These include:

Super Soccer Star - an interactive family targeted football talent show produced in association with Chelsea Football Club. The show has aired successfully in China and Malaysia. Format rights have been sold for Eastern Europe, Scandinavia, Turkey, India, Middle East and Vietnam to partners including IMG and Media Star Global.

Super Fashion Stars - a multiplatform entertainment property that includes a reality TV show aimed at 16-45 year olds with 60 contestants working together as a designer, stylist and model. Each team is slowly eliminated over the series for the prize of showcasing in London during London Fashion Week in the Fashion Fringe at Covent Garden venue.

Skunk Fu! - a comedy action animated TV show for kids aged 6-11 which airs in 100+ territories including Cartoon Network(US), the BBC(UK), Disney Latin America, Cartoon Network Asia and Super RTL(Germany).

Apollo's Pad - a multiplatform young adult sitcom that airs on Bite TV in Canada and includes a content rich online offering.

Sokator-442 - a multi-player intergalactic football (soccer) management game that combines tactical thinking with fantasy/sci-fi gameplay.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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