AOL TIME WARNER INVESTS IN VIVA 2

US-based media company AOL Time Warner is to become a shareholder in Viva 2, the soon-to-be revamped sister service of German music channel Viva. According to a statement issued last week by channel operator Viva Media, it will form a joint venture with AOL Time Warner which will transform Viva 2 into a new music channel and operate Viva Media’s digital services available on the Internet at

http://www.viva.tv. The US-based partner will hold per cent and Viva Media 51 per cent in the new venture. The transaction is subject to approval from the media authorities. Currently, AOL Time Warner, like EMI Group and Vivendi Universal, holds an 18.9 per cent stake in Viva Media.

The statement adds that further details about the collaboration will be announced at a later date. Interspace believes that the new Viva 2 will contain various interactive elements and multimedia services and become available on AOL’s websites on the Internet.