Jesta Group Acquires Fox Mobile Group from News Corporation

NEW YORK, Dec. 22, 2010 /PRNewswire/ -- Jesta Group (http://www.jesta.com/) today announced the acquisition of Fox Mobile Group (FMG) from News Corporation.  A leading global entertainment provider, FMG includes such well-known consumer brands as Jamba, Jamster, Mobizzo and iLove, as well as Bitbop, a mobile video service and entertainment platform launched in the U.S. in early 2010. FMG, which will be renamed and become a part of Jesta Mobile Holdings, is co-headquartered in Berlin, Germany, and Beverly Hills, California, and operates in North America, Europe, South America and Australia.

"We believe that mobile entertainment is an important emerging market and we are excited about this acquisition and the opportunities for growth it presents", said Jason Aintabi, president of Jesta Group.  "FMG's unique ten-year history in mobile entertainment services; its stature as a trusted partner with carriers and device manufacturers; and its many successful consumer brands give it a clear advantage in this rapidly developing sector.  We look forward to working with the many talented and dedicated global employees of FMG and to a very bright future for the company and its brands."

Mark Anderson, COO of FMG, added: "We are all very excited to grow this business under Jesta Group's leadership, and to build upon the solid base established under News Corp.'s stewardship."

Jesta Group is a diversified company with a long history as a leading investor in all classes of global real estate and hospitality as well as in other important sectors of the economy, notably in the fields of manufacturing, technology and aviation. Jesta is headquartered in London, Paris, Montreal and New York.

Allen & Company LLC served as financial advisor to News Corporation on the transaction.

The transaction was completed on December 22, 2010.  Financial details were not disclosed.  

About Jesta Group

Jesta Group is a diversified company with a long history as a leading investor in all classes of global real estate and hospitality as well as in other important sectors of the economy, notably in the fields of manufacturing, technology and aviation. Jesta is headquartered in London, Paris, Montreal and New York.  

SOURCE Jesta Group