Sky takes equity stake in TV4 Entertainment
| 04 December 2015
As it broadens its portfolio away from satellite to online, UK pay-TV giant Sky has invested $300,000 via convertible debt security, in LA-based TV4 Entertainment.
TV4 owns a portfolio of special interest television channels distributed across multiple online platforms in the US — including Hulu, Amazon, Sony, Vimeo, YouTube and Roku — which are aimed at audiences that are typically underserved by traditional TV companies. Sky’s strategy has been to acquire and aggregate high quality video content into recognisable channel brands. Working with more than 200 content partners, TV4 has licensed over 5,000 feature-length and short-form titles as well as many TV and Web series.
Sky says that its investment in TV4 builds on its on-going programme of investing in start-ups such as online sports network Whistle Sports, Pluto TV, the online video aggregator and the US ad tech firm Sharethrough and VR firm Jaunt.
“This exciting investment will help us develop our understanding of niche content genres and what audiences are most passionate about,” commented Sky’s director, corporate business development, Emma Lloyd. “We are committed to developing partnerships right across our business that support and extend our leadership position in content and innovation. We look forward to working with the team at TV4 Entertainment as they continue to grow.”
Added Jon Cody, founder and CEO, TV4 Entertainment: “Our goal in this round of investment was to bring on strategic global investors that could unlock business opportunities as we expand internationally over the next year. Bringing Europe’s top entertainment company in Sky into the TV4 Entertainment family is the perfect fit for this mandate. We look forward to growing the value of the company for our shareholders while bringing