Video Service Mogulus Lands Gannett Investment

  • July 29, 2008
Publishing giant Gannett Co. announced making a minority investment in video streaming service Mogulus. While Gannett didn't disclose the amount, the blog TechCrunch reported the funding as being about $10 million. That would bring the New York-based company's total financing to date to $13 million, according to TechCrunch.

The investment expands Gannett's three-month-old agreement to power live broadcasts on the company's newspaper and TV station Web sites. "Now, with Mogulus, all our journalists--including print and Web reporters--can deliver live, multi-camera broadcasts of news events to our customers," said Craig A. Dubow, chairman, president and CEO of Gannett, in a statement.

The video startup offers a free ad-supported service and plans to soon launch a white-label professional version. So far, more than 100,000 producers, ranging from independent bloggers to Fox Broadcasting and Gannett, have started their own Mogulus channels.

Mogulus competitors include Ustream and Justin.tv. Some 12% of online adults have watched a live event on the Web, according to a June survey by JupiterResearch. The firm believes extensive online coverage of the upcoming Beijing Olympics could boost the audience for live online programming.--Mark Walsh

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