More Changes for Roo, Shares Released to News Corp.

By Sergio Published on .

Roo has fired its COO Steve Quinn without explanation, PaidContent says. The company, which provides Web-video content management, has had significant changes to its leadership, as previously noted on WebVideoReport here and here. News Corp, which uses Roo for some of its Web properties, announced it was purchasing 10% of Roo after the company passed certain financial milestones. Roo recently released 2 million shares in stock to News Corp., with the prospect of releasing another 2 million after the next series of goals are met. Although the purchase will give News Corp. a 10% stake in the company, Roo’s shares are valued at less than 1/15th of they were when the deal was made.
-Sergio Ibarra

EXCLUSIVE VIDEO


WebVideoReport sister publication TVWeek caught up with Roo CEO Kaleil Tuzman at the National Association of Program Executives conference last month and interviewed him about the company’s strategy.


In this article:
Most Popular