On Demand Group (ODG), the VOD service provider owned by technology company SeaChange International, has sold its holding in FilmFlex Movies Limited to the two other existing shareholders The Walt Disney Company Limited and Columbia Pictures Corporation Limited (Sony). The pre-Christmas transaction was revealed in a filing with the US Securities and Exchange Commission.
The £7,371,428 (€9,677,261) sale gives Disney and Sony direct control of the video on demand service running on the Virgin Media cable network in the UK. As part of the agreement a non-competition clause prevents ODG or SeaChange from setting up a rival movies on demand service on the Virgin cablenet.
ODG also has operations in Germany where it has a joint venture with Tele München Group.