HD Online TV Provider Scores Financing

AMERICAN FORK, April 15: Utah-based Move Networks, a
provider of high-definition online television services, has received $46
million in a Series C funding round that includes Comcast and Televisa, among
other investors.

The financing round was led by Benchmark Capital and also
includes Cisco, Comcast Interactive Media (a division of Comcast Corp.), Televisa and previous investors Steamboat Ventures
and Hummer Winblad Venture Partners. Move's patent-pending technology uses open
Internet protocols to deliver high quality, live and on-demand video.

“Viewers are demanding higher quality video at anytime and
anyplace,” said John Edwards, the CEO of Move Networks. “Move’s platform
provides a solution that maximizes quality while at the same time meeting the
demands of scalability and profits. This funding round is further validation by
leading digital new-media companies and infrastructure providers that Move
Networks has the delivery services uniquely designed to meet the online
monetization mandate of the world’s largest media companies.”

—By Mansha Daswani