S4C Invests in IPTV Operator

LONDON, June 5: IPTV
operator Inuk Networks has received £9.5 million ($18.5 million) in
second-round financing, led by Welsh broadcaster S4C’s commercial subsidiary
S4C Digital Media (S4CDM) and venture-capital firm Wesley Clover.

The new set of funding
will be used to bolster Inuk’s Freewire triple-play platform in the U.K., as
well as expansion into Ireland and North America. Freewire, initially targeted
at the student market, can be delivered as a wholesale solution to broadband providers
and network operators. As part of the transaction, Iona Jones, S4C’s chief
executive and S4CDM’s chair, and David Sanders, a director of S4CDM, will join
the Inuk board of directors. Jones said of the deal: “This investment
represents a coming together of S4C's commercial ambitions and our
understanding as a broadcaster of the importance of new methods of delivering
content to consumers. We believe that Freewire is a compelling proposition and
has the potential to become a mainstream digital television platform.”

“This is an exciting time
for Inuk, with our Freewire service already available in over 100,000 student
rooms in the U.K. and growing fast,” said Marcus Liassides, the CEO of Inuk
Networks. “S4C and Wesley Clover are providing the means to allow Inuk to
further enhance our technology platform and to continue to redefine the way
people watch TV.”

—By Mansha Daswani