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LONDON (Alliance News) - Digital content company One Media IP Group PLC Friday said it has signed a number of important deals for more video and audio content, as trading for the full year ended October 31 fell in line with market expectations.
In a trading update, the company which supplies content to music downloading retailers said it signed a number of profitable deals, which included over 300 animal video documentaries targeted at younger viewers, keep-fit video material and "underground breakdance" video content.
Since the first half, One Media said it has consolidated its position with a number of licensor partners by initiating deals whereby One Media buys out the partner from the royalty income due to the partner on One Media's exploitation of the royalty-bearing content.
The firm said it has invested USD122,550 in this activity, which it called an "efficient" use of its cash resources.
Overall the group said it retains a strong cash position and is debt free, while it believes the move to AIM in April has improved liquidity in trading of its shares.
Looking ahead, the company said it would seek further opportunities to expand its catalogue of both audio and visual content.
One Media shares were down 3.8% at 16.71 pence early Friday.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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