New York - ROO Group, a provider of online video distribution services, announced on Monday that it has received a strategic investment from News Corporation, which has taken a 5% stake in the company.

News Corp. may also acquire another 5% of ROO, either as a direct investment, or based on the performance of News Corp. properties using ROO's technology, which include The Times of London, The Australian, Fox News Channel and Sky News.

The Wall Street Journal reports that News Corp.'s investment amounts to about $12 million.

"News Corp. looks forward to building on its successful relationship with ROO to continue the growth of News Corp.'s video assets in the digital marketplace," said Jeremy Philips, executive vice president, office of the chairman, News Corporation. 

Related Links:
http://biz.yahoo.com/prnews/070129/nym024.html?.v=71
http://online.wsj.com/article/SB117003197066590694.html (WSJ)
http://www.roo.com