Austin, Texas - Media Excel, a developer of transcoding technologies for mobile TV, IPTV and Web TV platforms, said on Tuesday that financier Red McCombs, a co-founder of Clear Channel Communications, has increased his investment in the company.

New York - Hotswap.com, an Internet video start-up founded by three former University of California grad students, has raised an undisclosed sum of funding from backers including Apple co-founder Steve Wozniak and Clear Channel co-founder Red McCombs, Reuters reported.