Report: Web TV Service Joost Up for Sale

Authored by Mark Hefflinger on April 24, 2009 - 10:18am.

San Francisco - Streaming TV service Joost is actively seeking a buyer for the company, and Time Warner Cable (NYSE: TWC) is among the prospective suitors, CNET News.com reported, citing "sources close to the companies."

Neither company would comment on the report for CNET.

Founded in 2007 by the creators of peer-to-peer firms Kazaa and Skype, Joost initially offered its programming via a desktop client.

The company gradually gained more content through partnerships with a range of providers, but still does not offer the same range of programming as competitors like Hulu or YouTube.

Joost abandoned its desktop application in favor of Web-based streaming six months ago, and claims to have served 15 million video views in March.

CEO Mike Volpi told PaidContent in December that the company would "have to have a little more finance [in 2009] but specifically when depends on a lot of factors."

http://snipurl.com/gn7t6 (PaidContent)

http://www.joost.com