CNM Short Takes
News | 07/25/2001 4:00 am EDT
Rogers Communications invests $2 million in U.S. interactive TV software developer
Rogers Communications Inc has invested $2 million in California-based MetaTV, a company that provides software technology that enables interactive TV portals, services and enhanced TV applications. The investment will not necessarily result in Rogers adopting the company’s software for use in its digital set-top boxes, however. Jan Innes, VP of communications at Rogers, says the investment was made because Rogers "was looking for opportunities in the interactive TV area that looks like a good fit". She says it’s too early to say whether Rogers will use MetaTV technology for future ITV services. Rogers’ $2-million investment augments funding MetaTV recently received from Comcast Interactive Capital and Cox Communications Inc and other financial and strategic investors. With the Rogers investment, MetaTV’s total capital financing for 2001 has topped $30 million. MetaTV says the investment will accelerate the deployment of its Universal Portal Platform based ITV services.