• July 16, 2012

Citing unfavorable market conditions, mobile TV provider MobiTV has withdrawn plans for an initial public offering, which it had been planning since last August. The company had sought to raise up to $75 million to fund working capital needs.

MobiTV’s cloud-based technology delivers live and on-demand television content, which it licenses from major TV studios, to Web-connected devices, delivering more than 220 channels to consumers. MobiTV’s customers in the U.S. include AT&T and Verizon Communications.