Arqiva is hunting for an investment partner for its online TV venture SeeSaw, with options including a complete sale of the operation thought to be under consideration.
The company, which handles TV and radio transmitters for most UK broadcasters and is a partner in the BBC-backed YouView video-on-demand venture, launched SeeSaw in February last year.
Last October Arqiva completed a strategic review of the SeeSaw, which employs about 30 staff, and is set to kick off the hunt for an investment partner.
Arqiva, which is expected to appoint an advisor in due course, said that all investment options were being looked at “in order to support SeeSaw’s long term success”. It is thought that the options being considered run the gambit from selling a stake through to potentially an entire sale of the operation.
“We’ve been looking at SeeSaw as part of a wider strategic review and, following the success in launching a pioneering new service to both consumers and advertisers, we now believe the service needs further investment to reach its full potential,” said Nick Thompson, managing director of Arqiva’s broadcast and media business unit. “We need to enable a step-change in the development of the service in what is a very fast moving environment.”
Earlier this month Arqiva hired John Cresswell, the former interim chief executive of ITV (LSE: ITV), as its new chief executive.
Arqiva plans to look at all investment options for the business in order to support SeeSaw’s long-term success.
SeeSaw was launched using the assets of ITV, Channel 4 and BBC Worldwide’s defunct VoD venture Project Kangaroo, which Arqiva acquired for about £8m.
This article originally appeared in MediaGuardian.