Tuesday, November 22, 2005

WSJ.com - Diller's IAC, AOL to Invest In Web-TV Company

WSJ.com - Diller's IAC, AOL to Invest In Web-TV Company "Some of the biggest names in the Internet business, including Time Warner Inc.'s America Online and IAC/InteractiveCorp, are lining up behind Brightcove, a start-up firm that is developing technology that could accelerate the growth of television on the Internet.
Barry Diller, IAC's chairman, is joining the Brightcove board as part of a $16.2 million round of funding that is expected to be announced today. Other participants in the funding group include Hearst Corp. and Allen & Co LLC, an investment-banking firm that specializes in media investments. AOL, which is making Internet TV a priority, is leading the investment group and is the largest investor."
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