Virtue broadcasting provides internet broadcasting streaming services to the media and entertainment and corporate markets such as product launches, employee training sessions, annual general meetings and live concerts. Broadcasting services include production, encoding, digitisation, publishing and distribution. Events broadcast over the internet included concerts by Paul McCartney at The Cavern in Liverpool and Madonna from The Brixton Academy in London. Evolution Capital carried out a strategic review to move the company forward, introduced new key personnel and advised with both disposal and M&A programme resulting in multiple transactions
Advice, planning and preparation
The Group engaged Evolution Capital to provide a strategic review of the business, which recommended focus on the expanding market incorporate communications and led to the introduction and installation of a New Chairman. In line with restructuring advice the Group disposed of Virtue Media Services division in June 2003 to Interoute Communications and within 12 months acquired Swiss based corporate on-line video specialist Unit.Net.
In August 2004 Virtue merged with World TV in a reverse merger transaction for £18 million, expanding its operations into TV and news production, an important step in the strategy to create an integrated media communications service with digital delivery. The new service of integrated webcast/web-conference and satellite delivery, web design and hosting, editing and post-production,content distribution and video archive management focused on the Financial& Marketing sector, where the company had established a foothold with clients including BP, Nestle, Reuters and Sony.