JumpTV To Restructure And Focus On Sports And Latin Content; Sale Of Other Units
By Rafat Ali - Thu 14 Feb 2008 10:53 AM PST
JumpTV, the Canada-based online video content provider which has made a string of acquisitions in the U.S. market in the last year, is going through a rethink of its business, and has hired a bank to sell off two lines of its business. The company bought three sports related sites in U.S. in the last 18 months or so, including SportsYa, Cycling.tv and XOS, in an effort to expand beyond its original mandate of ethic TV channels from around the world. It also did a $100 million IPO on AIM last year.
Now, the company has decided to focus on sports content and Latin American content, both on the video side, and has hired Oppenheimer & Co. as its bank to sell two lines of its business: the CDN that it says is a significant cost center, and its non-Latin content from countries in Middle-East, India and others. Details in release.
Meanwhile, recently a bunch of JumpTV (TSE: JTV) executives jumped over to Roo, the troubled online video service based in NYC, so that may have had some effect on decisions on which are to focus on. Roo CEO now used to be JumpTV’s president in the past as well.
Posted in: Broadband, Entertainment, Sports, Social Media, Video Sharing
Tags: jumptv,
