United News & Media has announced that it has bought a stake in LineOne , the internet joint-venture company formed by BT and News International last year (subscribers see One Line For BT And NI).
The group is thought to have paid around £10m for a 33% equity stake in LineOne.
Clive Hollick, United News & Media’s Chief Executive comments: “United’s strategy is to transfer its strong consumer and business to business content on to electronic media and to develop new products and services which utilise the enhanced functionality new media presents. This investment represents an important step in that direction.”
LineOne’s subscriber base is estimated to currently stand at 70,000.
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