Arquiva paid £8m for Kangaroo
July 29, 2009
Arqiva is understood to have paid in the region of £8m (E9.3m) to buy the assets of Project Kangaroo. Arquiva also acquired Project Kangaroo assets such as the brand name See Saw, which it has the option to use for its own proposed video-on-demand service that will launch in the coming months.
The remaining Kangaroo management, who may move over, includes chief financial officer Christine Mullin, commercial director Cosmo Lush, chief executive Rod Henwood, chief technical officer Lee Morgenroth and product director Richard Dines.
Last month the Office of Fair Trading accepted undertakings from Kangaroo’s partners – BBC, ITV, C4 – relating to what broadband TV ventures may, or may not, be permissible between them over the next five years. The broadcasters agreed that they will not acquire control of any others’ video-on-demand activities. Directors or managers will also be prohibited from taking any directorship or managerial position that would give them control of their former partners’ video-on-demand services.