In the second statement in a month over the future of its catch-up TV portal SeeSaw, Arqiva has announced the appointment Ingenious Corporate Finance to find an investment partner to initiate acceleration in the development of the service.
“The time is right for further investment in SeeSaw and we need to build on the success of launching this pioneering new service for the benefit of both consumers and advertisers,” Nick Thompson, managing director of Arqiva’s Broadcast & Media business. “We plan to look at all investment options to support SeeSaw’s long-term success. The expertise of Ingenious Corporate Finance will greatly facilitate this process.”
Launched in February 2010, SeeSaw was devised as a single online destination that would aggregate both catch-up and archive content from the UK and the United States.
SeeSaw paid an estimated £8 million (€9.56 million) for the technology developed by Project Kangaroo that was broken up after the intervention of the Competition Commission broke up the BBC-ITV-Channel 4 venture.
