Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares, Disney says more than 160 stations signed up for its clearinghouse, and The New York Times launches content and crossword puzzle on Snapchat.
In coordination with a secondary offering of TrueCar’s shares, seven investors plan to sell 7.5 million of the company’s shares at an unannounced upcoming date, worth $118.9 million at the close of the stock market on Monday, reports the Business Journal. The online car-pricing website’s secondary offering will be used to raise funds for general operations and is worth about $15.9 million.
Disney-ABC Television Group says it signed up more than 160 stations for its clearinghouse initiative designed to get the network and its affiliates available on more over-the-top distributors, reports Broadcasting Cable. The clearinghouse program lets ABC affiliate channels opt into pre-negotiated agreements for digital distribution of their linear feeds and possible video-on demand products.
The New York Times launched a Snapchat Discovery channel, complete with a mini-crossword puzzle, reports TechCrunch. The paper will include a handful of its stories, cut down to a quick-to-consume format that emphasizes photos, video, and other visual content.
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