Category: Technology Author : JR Raphael Posted: July 28, 2008
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Mogulus Gets Millions From Gannett
Video streaming company Mogulus has secured around $10 million from Gannett, according to a report just released by CNET News.
The two companies have been partnered up for about three months now, leading to streaming solutions for Gannett’s various newspaper and TV station web sites. This morning’s funding news confirms rumors floating around the blogosphere of increased growth between the two companies.
In addition to its work with Gannett, Mogulus is continuing to build its own pay-to-play service as an alternative to its typical ad-supported model.
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I thought the big media companies were all broke?
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Ryan, as a former employee of one, I can tell you without a doubt that they are struggling. I think these online ventures are their last hope to rebuild a successful business and jump into the world of new media, as they know their old models are simply not bringing in profit any more. But yeah, it's amazing that Gannett could even dig up that kind of cash right now, given how much money it's losing every month.
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