New Ownership for SeeSaw

LONDON: Majority ownership of British online video platform SeeSaw has been sold to a consortium of investors led by Criterion Capital Partners, with ex-Channel 4 chief Michael Jackson assuming the role of chairman.

New majority owners Criterion also own U.K. social networking site Bebo.com, among other assets. Jackson, whose media career has included stints at the BBC, Channel 4 and IAC, becomes chairman immediately and takes an ownership stake. “The TV industries in the U.K. and abroad will continue to be reshaped in ways no one can quite predict, however it is clear that web-delivered programming will play a vital role in that transformation,” said Jackson. “The technology behind SeeSaw is world class and the group behind the bid has a great mix of entrepreneurial and industry experience.”

Current owners Arqiva will retain a 25 percent stake in the platform, which delivers more than 3,000 hours of TV content and reaches 900,000 monthly worldwide visitors. Arqiva launched SeeSaw in 2010 after acquiring the assets of Project Kangaroo, the broadband venture initiated by BBC Worldwide, ITV and Channel 4 that was blocked by competition authorities.

"SeeSaw—and Project Kangaroo before it—is the product of many years of hard work and innovation from some of the best technical and programming minds in the entertainment industry," said Arqiva CEO John Cresswell. "We are pleased to retain a sizeable stake in SeeSaw and optimistic for its future."