TVNZ has acquired a stake in Hybrid Television Services, paving the way to launch TiVo in New Zealand.
The company has announced the acquisition of the 33% stake in Hybrid Television Services, the exclusive licensee of TiVo in Australia and New Zealand, from Seven Media Group.
Seven Media Group retains the remaining 67%.
Hybrid Television Services launched TiVo in Australia in July 2008. TVNZ's investment will support the launch of the media device in New Zealand, scheduled for later this year.
The TiVo media device allows viewers to receive all free-to-air digital TV channels as well as broadband content, services and games.
Compatible with New Zealand Freeview HD broadcasts, TiVo will enable viewers to record their favourite shows, pause and rewind live TV, watch movies on demand and access services such as pizza ordering, shopping and weather forecasts through their television.
TVNZ's investment has prompted the formation of a Board of Directors at Hybrid Television Services, chaired by James Warburton, Chief Sales and Digital Officer for Seven Media Group. Rick Ellis, CEO of TVNZ, Rodney Parker, CFO of TVNZ and Bruce McWilliam, Commercial Director for Seven Media Group complete the board.
"The TiVo media device is a global leader and our investment in Hybrid Television Services is an investment in the future commercial success of TVNZ. It marks a further step in our transition from a traditional broadcaster to a multi-platform digital media company with diverse income streams, operating in the Australasian market," Ellis says.
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