Los Angeles – Move Networks, a provider of streaming media
delivery services, is shutting down and seeking a buyer, according to published
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
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