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Variety reports: “In the latest chapter in the saga of pay TV’s evolution — or disintegration — here comes Philo: The startup, after receiving $25 million in funding from five cable programming groups, has launched an over-the-top skinny TV bundle that strips out pricey broadcast and sports networks. Philo’s base package of 37 channels mostly come from its five strategic investors, who took minority ownership stakes in the startup earlier this year: A+E Networks, AMC Networks, Discovery, Scripps Networks, and Viacom.”

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