Kanata-based You.i TV – which attracted more than US$50 million in venture capital over the past decade as it developed cross-platform video apps for customers around the world – has been sold to U.S. media giant WarnerMedia LLC, according to a news report.
In a story reporting the deal Thursday, the
Globe and Mail pegged the value of the transaction at more than US$100 million. A source told the publication the deal is expected to be announced publicly within a matter of days.
You.i co-founder and CEO Jason Flick did not respond to requests for comment from OBJ on Friday. Company spokesperson Sandra Catana sent an email saying: “We don’t comment on M&A speculation so nothing to share at this time.”
Kanata-based You.i TV – which attracted more than US$50 million in venture capital over the past decade as it developed cross-platform video apps for customers around the world – has been sold to U.S. media giant WarnerMedia LLC, according to a news report.
In a story reporting the deal Thursday, the
Globe and Mail pegged the value of the transaction at more than US$100 million. A source told the publication the deal is expected to be announced publicly within a matter of days.
You.i co-founder and CEO Jason Flick did not respond to requests for comment from OBJ on Friday. Company spokesperson Sandra Catana sent an email saying: “We don’t comment on M&A speculation so nothing to share at this time.”