Rolf Schmidt-Holtz, CEO Sony Music Entertainment, New York will become partner of the Hamburg based pay-platform TeVeo from April 1st 2011 on. According to well informed circles his share is supposed to be 10 per cent.

Schmidt-Holtz said in a statement in Hamburg today: "TeVeo has realized the signs of time and plays a key role in the hybrid-TV-technology. I see enormous growth for TeVeo's pay-platform TV-ID, not only in Germany, but for the whole European market."

Subscribe to billboard biz to continue reading this article and thousands more. subscribers get:
  • 24/7 coverage of every genre and sector of the business with over 150 exclusive charts
  • Bulletin: Breaking stories, chart info and analysis sent directly to your inbox every weekday
  • Billboard Magazine iPad Edition: An enhanced version of the magazine with video, photo galleries and playable charts
  • Archives: A rich history of articles and exclusive charts

Join now or Log In