Oxygen Seeking New Investor
August 28, 2007 10:46 AM
Oxygen Media confirmed today that it is looking for private equity to replace funding from Clarity Partners, a Los Angeles-based private equity investment firm. A source from Clarity said the firm decided to pull the five- year trigger on its “substantial” investment in Oxygen because Clarity doesn’t want to invest in a stand-alone cable network.
Earlier this month, published reports said NBC Universal was interested in buying Oxygen; an Oxygen spokeswoman would not comment on those stories. She did say Oxygen had secured debt financing, but given the conditions in the credit market, Oxygen was considering its options, including seeking a new infusion from a private equity partner.
Oxygen’s other investors are Paul Allen’s Vulcan Ventures, Carsey-Werner, Oprah Winfrey and Time Warner/AOL.