David Docherty has stepped down as chief executive of YooMedia plc, the UK’s biggest independent interactive media company.
The former managing director for broadband at Telewest and previous director of new media at the BBC, is leaving YooMedia to pursue other business opportunities.
He became chief executive of YooMedia in January 2004, having been appointed as a non-executive director the previous year. He oversaw the merger of YooMedia with the Digital Interactive Television Group last November, creating the largest independent interactive television group in the UK.
“David was central to YooMedia’s development into a broadly-based interactive media group with significant revenues and a great future,” said Michael Sinclair, the executive chairman.
David Docherty said: “I joined Michael and the YooMedia team when the company was developing its strategy to be a major player in the interactive media arena. The company has grown significantly in the last two years. Now, with DITG successfully integrated, I want to follow up entrepreneurial possibilities in the converging world of broadband, TV and mobile.”
In the course of last year, YooMedia was transformed through a series of acquisitions from being a small business with an annual turnover of £750,000 running interactive services on Telewest cable, to become a company providing services on all UK interactive television platforms with 250 staff and monthly revenues of £8 million.
Last year David Docherty was paid £300,000, including a bonus of £119,500.
The group now has significant interests in gambling and dating, and is by far the biggest independent interactive solutions provider for digital television in the UK.
In 2004 YooMedia recorded an operating loss of £24 million on a turnover of £21.3 million. Its combined acquisitions made a gross profit of just £82,000. YooMedia is listed on the Alternative Investment Market in London. Since the acquisition of DITG, the YooMedia share price has fallen steadily from about 25 pence to around 9 pence.
Neil MacDonald, the former managing director at DITG, has been appointed group managing director for YooMedia.