Los Angeles - MySpace founder Brad Greenspan's LiveVideo Network venture this week made a $12.6 million offer for 25% of JumpTV, but the offer was turned down in favor of a previously announced merger agreement between JumpTV and NeuLion, Canada's Globe and Mail reported.

Toronto-based JumpTV broadcasts sports and international TV programming online, while NeuLion webcasts video including National Hockey League highlights.

Under its proposed deal, JumpTV is set to issue around $40 million of shares to merge with New York-based NeuLion.

The offer from Greenspan's LiveVideo would have offered about $1 per share for JumpTV, and $7 million in marketing commitments.

"We're flattered with Mr. Greenspan's interest. We think he's building an interesting and exciting business with strong potential," JumpTV chairman Scott Paterson told the Globe and Mail.

"The board considered his interest in working with JumpTV and deliberated quite seriously about the potential that it might create, and then decided to move forward with the NeuLion merger believing that is in the best interests of our shareholders."

Related Links:
http://snipurl.com/2q2ab

http://www.livevideo.com/Jumptv

http://www.jumptv.com

http://www.neulion.com