Los Angeles - Move Networks, a provider of streaming media delivery services, is shutting down and seeking a buyer, according to published reports.
Multiple reports state the company has laid off all employees, while NewTeeVee says CEO Roxanne Austin will resign later this week.
A recent post to the company’s Twitter stream reads: "Want some slightly used company assets and some amazing video streaming IP rights? $150,000,000 and it’s yours! Foosball table included."
Dan Rayburn blogged that sources told him multiple suitors have approached Move in the past month.
Founded in 2006 in Utah, the now Irvine, Calif.-based Move Networks provides streaming services to broadcasters such as ABC, Fox, ESPN and Discovery.
The company raised nearly $70 million in venture capital, from backers including Benchmark Capital, Microsoft, Cisco, Comcast Interactive Capital and Disney-affiliated Steamboat Ventures.
http://tinyurl.com/2bvauyn
(PaidContent)
http://tinyurl.com/27zx2wf (Dan Rayburn)
http://tinyurl.com/2wezheb (NewTeeVee)
Comments are closed