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."
With TV-ID, owners of hybrid TV sets can get content from the Internet directly onto their screens, and also can buy products and services. TeVeo says that in five years two third of all TV households will have TV sets with Internet access.
Schmidt-Holtz recently became a shareholder of the Hamburg-based startup company Hanse Venture and was appointed to the foundation of the German media company Bertelsmann, of which he was on the board for years. This strengthens rumors that Schmidt-Holtz will retire from Sony Music Entertainment in March and be replaced by Universal's Doug Morris . Sony has not commented on the reports officially.
In January 2001 Schmidt-Holtz became chairman of the board of the Bertelsmann Music Group (BMG). With the merger of BMG with Sony in 2003 he first became chairman and from 2006 on CEO of Sony BMG. Since the sale of the Bertelsmann-shares to Sony in 2008 he is CEO of Sony Music Entertainment.