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.
Related Links:
http://tinyurl.com/2bvauyn
(PaidContent)
http://tinyurl.com/27zx2wf
(Dan Rayburn)
http://tinyurl.com/2wezheb
(NewTeeVee)
