CNM Short Takes
Broadcast | October 6, 2004
Magic Lantern launches new division
Magic Lantern Group Inc., Oakville ON, has formed a new division for the unified creation of catalogue information, DVD masters and online digital streaming files called Parasol Video Inc. The company is seeking financing for the spinoff, with equity positions of up to 50% available. Parasol will offer Magic Lantern partners, educational video distributors and e-learning producers collaborative use of its VideoBase and InSite online video technologies. The goal of the new division is to aggregate, promote and package the largest collected library of online video offerings as an independent or non-specific distributor-affililated company. "Parasol Video follows a scalable business model similar to commercial giants such as Amazon.com. Utilizing our proprietary digital indexing technologies, we are creating a portal that allows for centralized searching and the aggegation of millions of titles from multiple suppliers and producers. The cooperative arrangemet set forth by Parasol Video is revolutionary in that it allows for revenue sharing on a partnership basis to take place among our suppliers, distributors and our competitors," said Magic Lantern president and CEO in a media release.
This content is available to wirereport.ca subscribers
Already a subscriber? Sign in here
Unlock all the Canadian telecom, broadcasting and digital media news you need.
Take a free trial or subscribe to The Wire Report now.
FREE TRIAL
Two weeks of free access to thewirereport.ca and our exclusive newsletters.
SUBSCRIBE
Unlimited access to thewirereport.ca and our exlusive newsletters.