UK - Audio Network Plc, the media music and sound specialist, has announced an investment by Leisure & Media VCT plc to accelerate its worldwide growth. Leisure & Media has invested £250,000 in return for a 7% equity stake in Audio Network, which says it has a revolutionary model, "supplying music for use in film, television and multi media production without the usual restrictions, cost and complications".

During the three years since its formation Audio Network has signed up over 100 composers and sound designers and has become established as a leading supplier of music to the UK production community; its music and sound library, comprising over 50,000 sounds, can be previewed on-line at www.audiolicense.net.

Robert Hurst, managing director of Audio Network, said: "We are delighted to welcome Leisure & Media VCT as shareholders in the company and welcome their participation over the coming years as we replicate the success that we have had in the UK television production sector into new markets." Maarten Hemsley, representing NAV, Fund Manager of Leisure & Media VCT, commented: "We are very excited to be involved with such an innovative and exciting company with the foresight to anticipate the changes impacting the international media markets."

(Mike Lethby)


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