Comcast Buys Internet Video Software Firm thePlatform

Jun 28, 2006  •  Post A Comment

Comcast, the largest U.S. cable company, has acquired Internet video software company thePlatform.

Comcast has used thePlatform’s technology to power its Web site The Fan, which delivers nearly 2 million video streams a day to Comcast customers. Scripps Networks and ABC News Now also use thePlatform’s software.

ThePlatform’s management team will remain intact, the company said Wednesday in a statement. The terms of the transaction weren’t disclosed. News reports have pegged the price at $80 million to $100 million.

As media companies struggle to figure out how to turn demand for Internet video into revenue, they’re turning to companies such as thePlatform to help them execute digital business plans.