Tesco purchases stake in digital music platform

RNS Number : 4031F

Tesco PLC

14 June 2012

Thursday 14^th June 2012

TESCO PLC

Tesco purchases stake in digital music platform WE7

Tesco has announced the purchase of a 91% stake in WE7, a leading free-to-listen, personalised internet radio service which will offer customers a wider choice in how they consume music, complementing Tesco's current music offer in store and online. The purchase price is £10.8 million.

The move follows the acquisition last year of blinkbox - recently voted the UK's best online movie service by Channel 5's The Gadget Show - and is the latest step in Tesco's strategy to offer customers new and innovative ways of accessing digital entertainment.

For more information visit: www.tescoplc.com

ENDS