e-district.net PLC
27 February 2002
E-district.net plc
E-District To Change Name to yoomedia plc
The board of e.district.net plc announces that it intends to change its name to
yoomedia plc. The name change is subject to shareholder approval, which will be
sought within the next month.
The name change to yoomedia plc reflects the company's successful transition
from an internet-based operation to its focus on interactive digital television.
yoomedia is now positioned as a provider of participation-based entertainment
products for digital TV network operators and broadcasters.
Andrew Fearon, Chief Operating Officer, said, 'In yoomedia we have a name which
truly expresses our character as an interactive digital community. We are
already generating millions of minutes of chat and gaming per month across
interactive TV platforms. The new brand name plays on 'you' and 'me',
demonstrating the two-way nature of our products. yoomedia perfectly captures
our expertise in engaging viewers both in interactive dialogue and compelling
games entertainment.'
Michael Sinclair, Executive Chairman and Chief Executive, said, 'Our core
business is now exclusively the provision of enhanced chat, messages, and games
for interactive TV. Our old name reflected the PC-based nature of the company's
original services. Moreover, its brand value was seriously harmed by the
discovery of financial irregularities last year. However, we have now made a new
start in the direction of interactive TV, we have strengthened our management
team, and we are taking the business forward with creativity and innovation to
deliver working solutions for network operators and broadcasters. It is
therefore appropriate to rename the company to reflect our future strategy and
growth.'
Contact:
Graham Prince
020-7690-0879
This information is provided by RNS
The company news service from the London Stock Exchange
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