JumpTV Acquires Cycling TV for $4.95 Million
Toronto – JumpTV, a provider of live Internet TV channels, said this week that it will acquire U.K.-based Cycling TV for $4.95 million in cash and stock.
Cycling TV has the live broadcast rights to most international cycling events — except for the Tour de France — including the Vuelta a Espana, Tour de Suisse and Amstel Gold Race.
The company offers subscription-based plans and some free, ad-supported programming.
Toronto-based JumpTV offers nearly 300 live Internet TV channels from over 75 countries, including many foreign-language stations targeted at expatriates.
“This acquisition is in line with our pursuit of exclusive, hard-to-find and high-affinity Internet video content,” said JumpTV CEO Scott Paterson.
Joost had previously entered into a video content distribution agreement with JumpTV and Cycling TV.