MCI Management sets up a company to focus on digital entertainment

2007-04-27

The MCI Management investment fund has created Digital Avenue, a company which will focus on digital entertainment, multimedia content and media. The fund will transfer its shares in Iplay, an online music shop, and Streemo.pl, an online entertainment community portal, to the newly founded subsidiary.
MCI Management intends to concentrate its subsidiaries in the field of digital entertainment in order to profit from the synergies which this move is expected to prompt. Digital Avenue is expected to develop on the basis of money raised from stock market investors. MCI Management insists, however, that the company will not embark on the Warsaw Stock Exchange (GPW), but rather on a new market – the Alternative Trade System, to be established by the GPW. The public offer of Digital Avenue is expected to take place in the third quarter of 2007.

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