Media mammoth AOL Time Warner yesterday announced it is increasing its stake in Oxygen Media, a broadcasting group targeted at women. The size of the new investment has not been disclosed.
As part of the deal, Oxygen TV, which has had difficulties attracting viewers since its launch last February [WAMN:20-Oct-00], will become available to a further ten million analogue subscribers by Q3 2002 via Time Warner Cable.
The world’s number one media group also announced that Oxygen’s internet content would be “significantly increased” throughout AOL’s interactive operations.
Commented Bob Pittman, AOL’s co-chief operating officer: “With this agreement, millions more women will have increased access to Oxygen’s programming, information, advice and community.”
News source: Financial Times