YooMedia and SGI forge interactive link

YooMedia, the AIM-listed interactive media group, is to create a new company with venture capital firm SGI in a bid to exploit British and international interactive television markets.

As yet unnamed, it will be owned 50/50 by the two firms, although SGI will provide the financing with a £1.1m loan. The new set-up will also purchase YooMedia's Real Time Messaging System, which allows viewers to participate in programmes and was used on ITV1's Who Wants To Be A Millionaire?, as well as the TV rights for Tringo for £1m.

The firm has plans to develop Tringo, which combines bingo and Tetris, into a live presented interactive multiplayer game for TV, with cash prizes for the most skilful players.

Neil MacDonald, YooMedia's group MD, said: "This agreement is a clear indication that our partners have identified a strong market potential for these and other formats in the digital TV and IPTV markets."

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