Avanti Screenmedia, a United Kingdom-based satellite media and telecoms business, has completed the de-merger of its satellite networks business by way of a dividend. The shares of the existing Screenmedia business will continue to trade on AIM (London Stock Exchange’s international market for smaller growing companies) as Avanti Screenmedia Group. The satellite networks business has de-merged into a new entity, Avanti Communications Group.

Avanti Communications itself has inked a seven-year deal with Satweb Ltd. to provide satellite capacity. The deal, which could be worth up to 5 million British pounds ($9.9 million), was announced April 16. However, the initial deal with Satweb is only worth 528,000 British pounds ($1.0 million) and will only increase if there is a strong demand for Satweb’s services. The initial service will be based on Avanti’s existing leased capacity, and will transfer to the company’s own satellite, Hylas, upon launch.