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Pilat Media signs new contract with FOXTEL

By BFN News | 09:50 AM | Thursday 23 February, 2012

Pilat Media Global has signed a new contract with FOXTEL Management Pty Limited of Australia. FOXTEL is an existing client of the Company that originally licensed and has been using only the Video On Demand (VOD) module of the Company's IBMS system to support its on demand services. The new contract has been negotiated to govern the parties' relationship going forward as FOXTEL intends to license and implement additional parts of the IBMS system. Under this contract, fee-earning work has commenced on the scoping and the planning of the potential implementation of IBMS Rights at FOXTEL later this year. The progression from the scoping to the implementation phase is still subject to FOXTEL's approval based on the results of the scoping project At 9:50am: (LON:PGB) Pilat Media Global share price was +1.5p at 32.5p Story provided by