Online TV service SeeSaw has been saved from closure by a consortium of investors including the former Channel 4 chief executive, Michael Jackson, in a deal led by the US private equity firm that snapped up Bebo for a knockdown price.
Criterion Capital Partners has taken a controlling stake in SeeSaw, which is owned by transmission business Arqiva, in a deal estimated to be worth well over £10m.
The private equity firm has pulled together a group of investors from the film, TV and new media industry – including Dan Adler, a former Disney and Creative Artists Agency senior executive, who will build international relations with studios – with Arqiva retaining a 25% stake in the business and a seat on the new board.
FULL ARTICLE HERE: https://www.theguardian.com/media/2011/jul/14/seesaw-online-tv | https://thenextweb.com/news/uk-tv-on-demand-service-seesaw-is-saved-at-the-death