Deal insider: Channel Health
When David Mandell told his client that they should float their company - even before it existed - they thought he was mad. Less than a year later the deal was done
“You should float,” I said. My client thought I was nuts. That was back in November 1999. I was going through various versions of the business plan. Then the company did not actually exist. The team was very much names on a page, other than the CEO and architect of the project, Joanne Sawicki. But the market was in the grip of e-fever, and here was a business model that even as a concept had all the right ingredients: first-mover advantage, a robust future-proof TV business model, content development and ownership, cross-media platforms embracing the web and digital television, and the potential to roll out across other new media delivery systems. The Channel Health project was to launch the first interactive health television channel in the UK and Europe aimed at the mass consumer market. The company floated on AIM eight months later, debt free, with a price tag of £20m and more than £5m in the bank. This is how the deal happened.
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651