Galleon in IMG deal
Article Date: Mar 31 2009Entertainment media company Galleon Holdings is to develop its Super Soccer Star TV property in Eastern Europe with powerful IMG Entertainment.
Acquisitive Galleon is understood to be pleased with the undisclosed terms of the contract with IMG, part of leading multi-national sports, entertainment and media combine IMG Worldwide. These are thought to include a satisfactory advance and subsequent revenue share for Galleon from the interactive TV show, launched in China and produced with Chelsea Football Club.
In return, IMG has the rights to the Super Soccer Star format in Russia, the former Soviet states of Central Asia, Eastern Europe from the Baltic to the Balkans, Turkey and Scandinavia. The series generates revenues from mobile and online voting, sponsorship, advertising and branded merchandise, and AIM-quoted Galleon has so far aired it successfully in China and Malaysia, granted rights in the USA, India, the Middle East, Vietnam and Indonesia and is negotiating similar deals in further areas.
Stephen Green, West London-based Galleon’s chief executive officer, says he has ‘cut a strategic deal’ with IMG, which can manage whole world regions, rather than single countries. The Super Soccer Star format may develop differently in different areas, but Galleon will retain 100 per cent ownership of the intellectual property.
‘Russia is a key territory,’ he argues, pointing out that Galleon maintains links with Russian tycoon and Chelsea boss Roman Abramovich through his investment company. Galleon shares, which surged from 5.5p to 43.75p between 2006 and 2007, now trade at 18p, valuing the company at nearly £20 million and offering medium-term potential.
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