UK-based online TV venture to close

Online television venture SeeSaw will be closed down, as it has been unable to find an investor or buyer, MediaGuardian reported.

“[T]hird-party internet TV aggregators have struggled to compete with broadcasters’ own in-house on-demand services, and SeeSaw failed to gain a significant following compared to rival offerings such as the BBC’s iPlayer, ITV Player and Channel 4’s on-demand service, 4oD,” the report explained.

Owned by media services and communications infrastructure company Arqiva, the property is expected to close around 20 June. It was launched in February 2010 using assets of ITV, Channel 4 and BBC Worldwide’s Project Kangaroo, which Arqiva bought for about £8 million.

Initially, it offered 3,000 hours of free programmes. Three months after its launch, it also began offering paid content, with another 1,000 hours of programming.

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