GlassBOX Television Inc. Announces $5 million Series A Financing



    Includes support from leading media executives for the Company's cross-
    platform broadcast strategy under GlassBOX Founding CEO Jeffrey Elliott
    and new Co-CEO Raja Khanna

    TORONTO, June 9 /CNW/ - GlassBOX Television Inc. announces $5 million of
new venture and strategic investment, including backing from some of Canada's
leading media executives. Additionally, GlassBOX founder, President and CEO
Jeffrey Elliott announces the appointment of leading digital media
entrepreneur Raja Khanna as Co-CEO and investor in the Company. GlassBOX
creates and operates innovative broadcast and VOD channels across television
and digital media platforms that speak to today's consumer.
    The new investment, led by Toronto venture capital firm JLA Ventures,
includes investments from several respected media industry veterans including
former Executive Managing Director of International Television Distribution of
Alliance Atlantis Communications Ted Riley, former President and CEO of
Standard Broadcasting Gary Slaight, former President and CEO of CHUM Limited
Jay Switzer and former President and COO of XM Radio Canada Stephen Tapp.
Tapp, who also headed CHUM Television, will serve as an advisor on the
Company's overall strategy including international sales and licensing.
Innovative television and feature film financing company Aver Media and
leading live action production company Frantic Films Corporation are also key
strategic investors and advisors.
    "Our new structure, together with our extraordinary list of backers
propels us toward our goal of becoming one of the most relevant broadcasters
to today's digital media generation. We believe Canadian consumers and
advertisers are ready for something new," said Raja Khanna.
    "Our first channel, BITE TV, has helped define a new genre of digital
media broadcasting. I am thrilled not only to be joined by Raja, but by the
upcoming re-launch of BITE TV and the new multi-platform channels we will be
announcing in the months ahead," said Jeffrey Elliott.
    GlassBOX's first channel, BITE TV, launched in 2005 and has led the way
in defining a new generation of multi-platform interactive television
services. Moreover, GlassBOX is committed to showcasing emerging talent in
Canada. In fact, BITE TV's programming currently consists of 63% Canadian
content, almost double the channel's mandated 35%.
    The formula is working. In 2007, BITE TV won the coveted International
Interactive Emmy Award for Best Interactive Channel. BITE TV is now available
on cable, satellite and IPTV through Rogers Cable, Bell ExpressVu, Cogeco,
Videotron, Telus TV, SaskTel and MTS. Its content is also available on
numerous mobile carriers including Rogers, Bell Mobility, Telus, Virgin and
Fido in addition to leading broadband sites including Joost, YouTube, MySpace,
Facebook and iTunes. In addition to launching new cross-platform broadcast
channels the new funding announced will support the re-launch of BITE TV this
fall with a refreshed look, new content and a new broadband Internet video
portal.
    As the ownership of the company under the leadership of Jeffrey Elliott
and Raja Khanna will be more diversified, an application has been submitted to
the CRTC to approve the new structure.

    About GlassBOX Television

    GlassBOX Television Inc. operates cross-platform broadcast and VOD
channels with a strong focus on making use of new technologies to engage
audiences and deliver content across the globe in innovative ways. GlassBOX
Television's mandate is to support new talent, develop great content and make
the best use of new digital delivery methods to help drive audiences for
GlassBOX content creators, carriers and advertising partners. For more
information, please visit www.glassbox.tv.

    About JLA Ventures

    JLA Ventures, a venture capital firm with offices in Toronto and
Montreal, is a leading investor in technology companies at all stages of
growth. In addition, JLA Ventures is also the co-manager of the BlackBerry
Partners Fund. JLA Ventures' past and current portfolio companies include:
Triple G Systems (acquired by General Electric), Pixstream (acquired by
Cisco), Basis100 (acquired by First American Corporation), Fun Technologies
(acquired by Liberty Media Corporation), Servicesoft Technologies (acquired by
Broadbase), Isolation Systems (acquired by Shiva), Descartes Systems Group
(NASDAQ:  DSGX), Bioscrypt (acquired by L-1 Identity Solutions), Q9 Networks
(TSX:Q), VFM, Quickplay Media, MusicIP, HealthUnity, Planeteye, Nstein
(TSXV:EIN), ZIP Local (TSXV:ZIP), b5media, First Coverage Inc., I Love
Rewards, and Netshelter. For more information please visit
www.jlaventures.com.





For further information:

For further information: Quincy Raby, Director, Channel Marketing &
Sales, GlassBOX Television, PH: (647) 241-3757, E-mail: quincy@bitetv.ca

Organization Profile

Blue Ant Media

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890