PlayNetwork’s Joint Venture With Absolute Audio
Adrian J Cotterill, Editor-in-Chief
There have been conflicting rumours in the UK with regard Maidstone, Kent, based Absolute Audio Systems AND Redmond, Washington, based PlayNetwork.
Some said the latter has acquired the former, others seemed to think it’s only a JV BUT we are pretty convinced that it’s a JV (we doubt that PlayNetwork actually has enough cash for acquisitions after its Channel M purchase).
Our understanding is that Absolute Audio have effectively put all of their business into PlayNetwork UK Ltd. Revenues are split with Absolute Audio getting something like 50% and PlayNetwork itself and PlayNetwork UK Managing Director Dharmendra Patel each getting a percentage too.
If you think that’s weird then it is.
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