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Disney's Moviebeam VOD Service Raises $48.5 Million

Authored by Mark Hefflinger on February 6, 2006 - 6:26am.
New York - Moviebeam, a video-on-demand service launched by Disney in several markets in 2003 but suspended last year, has raised $48.5 million in new venture capital funding, Reuters reported on Monday. Both Disney and networking equipment firm Cisco Systems participated in the investment round, as did venture capital firms including Intel Capital, Mayfield Fund, Norwest Venture Partners and Vantage Point Venture Partners. Moviebeam spokeswoman Michelle Cox told Reuters that Disney remains the company's largest investor, but declined to itemize the other investors' contributions. Moviebeam utilized unused spectrum from TV broadcasters to "datacast" movies and other content to set-top boxes in consumers' homes. The service launched in three cities in 2003, but suspended all service in 2005, saying it planned to upgrade technology. The spokeswoman declined to tell Reuters when Moviebeam plans to re-launch.
http://tinyurl.com/btanu (Reuters)
http://www.moviebeam.com
tags: VOD | Disney | Raise | $48.5 Million |



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