Ovation TV Picks Up 24-Hour Music Channel

LOS ANGELES, January 7: Ovation TV, the recently re-launched
24-hour U.S. cable network devoted exclusively to the arts and personal
creativity, has acquired Universal Music Group’s (UMG) International Music Feed
(IMF), a 24-hour music-television network which combines the best of U.S. and
global music.

As part of the agreement, UMG will maintain an equity
position in Ovation TV. Under the purchase agreement, IMF will cease operation
of its programming on DISH Network on Wednesday, January 9, at which time it
will be replaced by the current programming of Ovation TV. IMF will cease its
programming on other distributors by the end of the first quarter of this year.

In addition, by combining IMF’s subscriber base with Ovation
TV’s current distribution, the network’s national distribution will increase by
nearly 60 percent to approximately 25 million homes. The gain is due primarily
to the carriage of Ovation TV on DISH Network, beginning January 9.

“Music is undeniably a large part of our everyday lives and
the music category has been a key element of our programming,” said Charles
Segars, the CEO of Ovation TV. “This strategic acquisition is an ideal fit, as
it provides us with access to the resources of Universal Music Group—the
world’s largest holder of music programming, including jazz, classical and
world music. The Ovation TV experience is quickly becoming an integral part of
the daily lives of hard-to-reach, passionate viewers, with art-based
programming that engages them and is not available anywhere else.”

“Our partnership with Ovation TV further expands UMG’s
growing portfolio of strategic media investments,” stated Nick Henny, the vice
chairman and CFO for UMG, a subsidiary of Vivendi Universal. “Ovation TV is
quickly emerging as an incredibly vibrant property with compelling programming.
It’s a perfect fit for IMF.”

IMF was launched in 2005 as a 24-hour music television
network dedicated to delivering all-music programming, including live concerts,
in-depth artist interviews and the most popular music videos from the U.S. and
around the world.

Lazard Freres & Co. acted as financial advisor to
Ovation TV in the transaction.

—By Kristin Brzoznowski