MobiTV -- the app-based, pay TV streaming technology company for pay TV providers -- has filed for Chapter 11 bankruptcy protection.
The company says it has secured $15.5 million in financing to help with its restructuring process while it continues operations.
MobiTV essentially provides a "white-label" service that includes around 120 small- and mid-size cable operators.
MobiTV is the technology backbone for T-Mobile’s new TVision service, which launched late last year. Another pay TV provider, CableOne, is working with MobiTV in launching a new IPTV service called Sparklight TV, which will roll out this year.
In 2018, MobiTV says it added to the list of networks in hosting streaming delivery rights, totaling more than 350. They included Bloomberg Television, Discovery, MGM HD, Newsmax, Outside TV, Smithsonian Channel, Stingray Music and Univision.
Previous networks included A+E Networks, AMC Networks, Crown Media Family Networks, C-SPAN Networks, Walt Disney, ESPN Media Networks and Viacom.
According to reports, MobiTV’s deal with pay TV providers is on a per-subscriber basis -- with no set minimum subscriber requirements, offering small- and mid-sized cable operators minimal start up costs.