The cash transaction, of which no details were issued, was completed on 12 July 2017 and DMC will become a TVT company with immediate effect.
DMC provides content owners, media companies and studios with software defined, cloud-based media logistics and distribution services. Today the company delivers media in 40 countries and in 36 languages, on behalf of customers that include A+E Networks, AMC Networks International, Fox Networks Group, Liberty Global, and Sony Pictures.
TVT’s acquisition of DMC will bring over 210 people into the TVT organisation, some 160 of whom are permanent employees. Alongside the acquisition, TVT and AMC Networks International have also entered into a long-term contract whereby TVT and DMC will provide content management and playout services for a significant portion of AMCNI’s channels across Europe.
“We welcome the DMC team to the TVT family and are excited that our combined heritage, expertise, and values will, effectively, create a new global content services powerhouse, equipped to tackle the ground-breaking changes taking place in media and entertainment,” says Ian Brotherston, CEO of TVT.
“Together we have the unique, end-to-end capabilities to support our customers throughout their content journey, enabling them to meet the expectations and demands of today’s digitally-savvy consumers by enhancing the viewer experience and driving the future of next generation entertainment.”
“AMC Networks International believes that DMC’s employees and customers will benefit tremendously from being part of a company whose focus is within the content services sector. We are therefore pleased to see DMC become part of TVT, a trusted and innovative content services organisation with a strong passion and track record in the media and entertainment industry,” commented Steve Pontillo, CTO, AMC Networks.
The DMC was founded by UPC to serve as the playout centre for digital channels across Europe and was acquired by AMC Networks in October 2013, as part of the takeover of Chellomedia. Earlier this year, AMC Networks’ international operations took a $68 million impairment charge on its Amsterdam media centre DMC that took it to a fourth quarter loss of $88 million.