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Jetix Italy Announces Management Buyout

Press Release from Switchover Media

Following The Walt Disney Company's rebranding announcement of Jetix channels within the end of 2009, the Italian Jetix Management -- led by Managing Director Francesco Nespega -- who carried on the Jetix business for the past 9 years since April 2000, approached Disney with an acquisition proposal for TV channels GXT and K2, both exclusively available in the Italian market where they were launched in May 2005 and July 2009, respectively.

Parties have signed a preliminary agreement based on which management will acquire 100% of the former local Jetix subsidiary which in the meanwhile has changed its name and brand into SWITCHOVER MEDIA and will continue to be based in Rome with all current dedicated staff.

GXT is the pay TV channel targeted to a young male audience exclusively available through Sky Italia Entertainment Channels Package to 4.7 million homes.

K2 is the free TV channel aimed at kids 4-14, distributed via digital terrestrial to 8.5 million homes, via satellite to 6.5 million homes and -- for 2 hours/day -- via analogue terrestrial to 17 million homes.

In addition to developing the GXT and K2 businesses, SWITCHOVER MEDIA will operate as an independent channel provider and intends to develop other channel projects targeting selected audiences for distribution on any TV platform available in the market.

SWITCHOVER MEDIA will also manage Jetix activities in Italy until the rebranding into Disney XD, announced by Disney for next Fall, becomes effective.

SWITCHOVER MEDIA management includes Francesco Nespega, Managing Partner; Giorgio Rossi, Partner -- Commercial Development and Marketing; Giuliano Tranquilli, Partner -- Programming and Content Development; and Annalisa Muratori, Partner -- Finance and Administration.

SWITCHOVER MEDIA commercial partners -- in addition to Disney itself which will make available to the venture part of the former Jetix Europe kids free TV library -- include Sky Italia, GXT exclusive pay TV distributor and ad sales agency, Telecom Italia Media Broadcasting, K2 digital terrestrial carrier, Eutelsat, K2 satellite carrier, and PRS TV, K2 ad sales agency specialized in kids advertising sales.