Magine TV, the cloud-based on-demand service in Germany, has revealed it will be closing down as of February 28th.
Kamal Bherwani, chairman of Magine, commented: “Magine began as a provider of web TV for consumers, but has been pursuing a strategy of being primarily a business-to-business provider for some time. Accordingly, we have decided to no longer focus on multiple business models, but on our B2B strategy. As a result, we are selling our B2C business to our renowned competitor and now partner Zattoo. We would like to thank all Magine TV users for their loyalty. With Zattoo, our users are in good hands and can continue streaming high-quality TV with a variety of TV channels.”
Switzerland-based Zattoo is preparing to take over the service which has 150,000 active users in Germany. Zattoo intends to imvest more cash into the service, and has revealed that a 2 month free “welcome offer” will be made available to all current Magine TV users.