|
Post by The Ultimate Nullifier on May 5, 2016 15:43:51 GMT -6
seekingalpha.com/news/3178723-demand-parners-frequency-asia-joint-venture?uprof=53#email_linkYou On Demand parners on Frequency Asia joint venture May 3 2016, 12:38 ET | By: Jason Aycock, SA News Editor You On Demand (NASDAQ:YOD) is forming a joint venture with Los Angeles-based Frequency Networks to take on consumer video management in Asia.Shares have jumped 9.3% on heavy volume today.The venture, Frequency Asia, will include a purchase by YOD of a 9% strategic equity stake in Frequency, which powers a number of white-labeled video services.Expanded distribution will come in the new deal -- Frequency Asia programming will include more than 70,000 channels organized into more than 60 unique verticals -- along with a stable of made-for-Web channels with brand partners that will be distributed globally.The investment into Frequency comes via purchase of Series A preferred stock, with an initial purchase of $3M in shares. Frequency issued 6-year warrants exercisable into up to 3M shares of preferred stock.
|
|