SeeSaw online TV streaming service shuts down
The video on demand streaming service SeeSaw has now closed, after a lack of investment and dwindling content meant viewers were turning off.
This has been on the cards for some time as Pocket-lint reported back in May that Arqiva hoped to sell the service "as part of an ongoing strategic business review".
A buyer was, in fact, found in the form of a group of investors which included Bebo owners, Criterion Capital Partners, who stumped up the cash in July and took on a majority stake.
However its investment clearly hasn't paid off with both Channel 4 and Channel 5 pulling content prior to this closure announcement.
SeeSaw was born out of the ashes of Project Kangeroo, an aborted TV catch-up service that was to be a joint initiative with BBC, Channel 4 and ITV.
Ian Maude, head of Internet at Enders Analysis commented:
"In the end they didn't have the backing they needed to make it - the kind of content that drives significant levels of usage, they were in a very competitive market. ITV wouldn't supply them content, and Channel 4 only did for a while. With competition from Google's YouTube they just didn't have a chance."