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Comcast buys advertising startup Freewheel for $360 million [March 07, 2014] (Reuters) — Comcast Corp, the entertainment and cable group, said on Thursday it bought Freewheel, a startup that personalizes and inserts online video ads for media clients, as it tries to boost its digital advertising business. |
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The companies did not reveal financial details
but a source familiar with the transaction valued it at $360
million. Freewheel's website said its clients range from media companies
such as 21st Century Fox Inc and Viacom Inc to Comcast
competitors like Dish Network Corp and DirecTV. Freewheel's investors include Steamboat Ventures, Turner
Broadcasting System, DirecTV, Battery Ventures, and Foundation
Capital. Comcast recently agreed to acquire Time Warner Cable Inc for
$45.2 billion. (Reporting by Liana B. Baker in New York; editing by Jeffrey Benkoe) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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