5th Apr 2006 07:00
Zoo Digital Group PLC05 April 2006 5 April 2006 ZOO DIGITAL GROUP PLC ("ZOO" or "the Group") Closure of Games Publishing Business and Sale of Assets Further to the statement issued on 1 February 2006 outlining the strategicreview of the Group, ZOO announces that it has re-focused ZOO Digital Publishing("ZDP"). ZOO will now concentrate its publishing activities on the creation andpublication of interactive DVD-Video ("iDVD") titles and have renamed thisdivision of the business ZOO Interactive Video Ltd ("ZIV"). ZOO's activitiesgoing forward consist of ZOOtech, the R&D and DVD-EXTRA software licensingdivision of the Group, and ZIV. ZOO has resolved to close its traditional games publishing business and has soldthe remaining assets to Barry Hatch, former Sales Director of ZDP, for a cashconsideration of £250,000. He will also assume ten members of the publishingstaff as part of the sale agreement. The remaining members of staff have beenmade redundant which also sees the closure of ZOO's game development studio inBristol and completes ZOO's exit from traditional games development andpublishing. The development of ZOOtech now represents the main focus for ZOO moving forward.The Board believe that the prospects for the development of its unique DVDsoftware remain sound and are encouraged by the continuing commercialopportunities that the Hollywood market presents. - ends - Enquiries: Stuart Green CEO, ZOO Digital Group plc 0114 241 3700 James ChandlerWeber Shandwick Square Mile07771 787098/020 7067 0747 Alasdair RobinsonNoble & Company Limited0131 225 9677 Notes to Editors: About ZOO Digital Group PLCZOO is divided into two separate divisions; ZOOtech Ltd ("ZOOtech") and ZOOInteractive Video Ltd ("ZIVL") (formerly ZOO Digital Publishing Ltd ("ZDPL")). ZOOtech Ltd ("ZOOtech")ZOOtech focuses on R&D and licensing of DVD-EXTRA, the Group's highly originaldevelopment software capable of creating complex interactive content forstandard DVD players. The strategy for ZOOtech is simple; to create the industrystandard tool for the production of interactive DVD content and drive revenuesthrough licensing worldwide in a combination of up front fees and royalties. ZOO Interactive Video Ltd ("ZIV")ZIVL is a world leader in the production of interactive video entertainment. Itacquires rights and sub-licenses the finished iDVD products for distributionthrough video 'majors', or it provides specialist interactive video productionservices to others. . ZIVL utilizes DVD-EXTRA Studio to produce all its awardwinning titles. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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