LONDON--U.K. Sky PLC (SKY.LN) said Tuesday it invested a further
$5 million in 1Mainstream, a California-based company that operates
a platform to let content-providers distribute videos easily across
a range of devices.
The new investment, in the form of a convertible debt security,
supplements the $2 million Sky invested in August 2013.
1Mainstream will set up a new subsidiary, with Sky as a
shareholder, developing new product concepts, Sky said.
"The expansion of the partnership with 1 Mainstream builds on
Sky's ongoing program of investing in startups that continue to
innovate and gain market share," Sky said.
Sky's biggest shareholder is 21st Century Fox, with a 39.1%
stake. 21st Century Fox was until late June part of the same
company as Wall Street Journal and Dow Jones Newswires owner News
Corp.
Write to Ed Ballard at ed.ballard@wsj.com
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