Ex-Viacom Exec Launches Internet TV Venture; Raises $8 Million in First Round

Authored by Jay Baage on January 4, 2007 - 2:20pm.

New York - Herb Scannell, a former vice chairman of MTV Networks and former president of Nickelodeon Networks, unveiled Next New Networks on Thursday. The new company plans to put more than 30 of what it calls "micro-television networks" on the Internet. The company also announced that it raised $8 million in its first round of venture capital, led by Spark Capital.

Scannell’s partners in the deal include Fred Seibert, founder of Frederator Studios and former president of Hanna Barbara; Emil Rensing, original member of the AOL Greenhouse and creator of the VOD Cars podcast; Jed Simmons, former COO of the Sundance Group and senior executive at Excite and Turner Broadcasting; and Tim Shey, co-founder of Proteus and producer of interactive and mobile media.

The networks will have their own websites and feature entertainment segments lasting three to 12 minutes each. Much of the content will be supplied by Internet communities, according to the LA Times. The networks will be built around affiliated Internet groups whose members share highly specialized interests and frequent the same blogs. One network, for example, might feature videos from fans of foreign cars.

Related Links:
http://www.nextnewnetworks.com
Ex-Viacom Executive Launches Web Venture (LA Times)
http://biz.yahoo.com/bw/070104/20070104005301.html?.v=1 (Press Release)