JumpTV buys UK Cycling TV
13/08/2007 |
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Canadian online broadcaster JumpTV has aquired UK internet TV channel Cycling TV in a $5m (£2.4) deal.
Jump TV will pay $4.95m in cash and stock for the London-based operation which holds internet broadcast rights to races such as the Vuelta a Espana and the Amstel Gold Race.
The site, which has approximately 18,000 subscribers, currently offers live and archived cycling events and related content on a subscription, pay-per-view basis as well as a free-to-consumer, ad-supported model.
Jump TV has over 100 internet TV channels around the world covering areas such as sport, news and entertainment.
Jump TV chief executive Scott Paterson said: "This acquisition is in line with our pursuit of exclusive, hard-to-find and high-affinity internet video content.
" Cycling is a global sport with a large and passionate international following. Moreover, we are confident that, as part of JumpTV, the world's top cycling races will be able to afford their worldwide fans the best in an online experience," he added.
JumpTV said it will continue to maintain the Cycling.tv website and chief executive Simon Brydon will continue to head up the company.
(Source: www.broadcastnow.co.uk)
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