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Einstein Channel - NO RECOMMENDATION

Companies: EIC   
28/09/2000

Einstein Channel, the digital TV channel dedicated to cutting-edge science and technology, is to launch in the UK in January having wowed Europe with its extensive portfolio. A rise in turnover to £254,000 (£120,000) offset losses of £1.4m (£33,000 profits) at the interim stage. These losses to June, however, were less than those forecast and were incurred from development costs and from its IPO. Following a successful investment and media partnership created with Channel Health, Einstein has negotiated a UK carriage deal on Sky. With cash reserves of over £6.2m the company also plans further development of its network, most especially in Germany where grants and loans are easier to acquire. Revenues are gathered from advertising, sponsorship and subscriptions. The website www.einstein.tv to be completed by the 15th November is also being updated daily. The newly appointed management team propeling these advances forward is headed by Stuart Pearson from the BBC as head of strategy and planning and Richard Wilcox from BSkyB as head of content.

Market cap: £10m
PE Forecast: n/a
PE Historic: n/a
Share price: 27.5p

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