25 May 2012

Sky swap cheers Cellcast

20/03/2008 Robert Tyerman

Bombed-out interactive media minnow Cellcast is to receive £1.4 million in a channel swap on Sky Digital.

The AIM-quoted company, which lost a reduced £1.8 million in the first half of 2007, is moving its flagship ‘Sumo’ service from Channel 144 to another channel in the Sky general entertainment section. The Sumo media network integrates user-generated content into television programming, internet and mobile services, and London-based Cellcast says the deal means £1.4 million comes into its coffers and ‘significantly’ reduces its own funding requirements.

Floated in 2005 at 71p, Cellcast’s shares hit 93.5p the following year before collapsing all the way to 2.25p last month. The Sky deal has seen them perk up 0.5p to 2.88p today, where they value the company at £2.2 million.

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Sector: Media

Companies: Cellcast

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