TMCnet News
Next New Networks Debuts Online Micro-NetworksNEW YORK --(Business Wire)-- Next New Networks today unveiled its plans to launch 101 micro-networks over the next five years to create a new kind of media company specializing in targeting vibrant communities on the Internet. The company will add one to three networks per month in the months to come, and today it announced its first slate of six networks that begin to demonstrate the breadth of the company's offerings, which range from cars to fashion to ideas/viewpoints. The company also announced that Saban Capital Group and Benchmark Capital Europe are joining in its Series A investment being led by Spark Capital, and that Jonathan Miller, former AOL chairman and CEO, will join the company's board of directors. Each micro-network from Next New Networks is its own unique entity, hosting its shows on a distinctly branded website. New and archived shows can also be found on iTunes and YouTube, and viewers are invited to contribute, share and distribute the network content. New episodes of each three to eight minute show will be regularly scheduled either daily or weekly. The networks at launch are: -- Channel Frederator (www.channelfrederator.com) -- a network packaging together some of the world's coolest and funniest cartoons as sent in by the viewers and served fresh each week. -- Fast Lane Daily (www.fastlanedaily.com) -- a network featuring the day's latest news from the showrooms and design studios of the automotive world, as well as car communities and the blogosphere. -- PulpSecret (www.pulpsecret.com) -- the world's first network devoted to comic book news and culture, featuring The PulpSecret Report produced by David P. Levin (TV Land Confidential). -- Threadbanger (www.threadbanger.com) -- the first network for people who create their own fashion, featuring "Thread Heads," a weekly DIY fashion show. -- VOD Cars (www.VODCars.com) -- the #1 online car network, featuring the very best clips for the speed-obsessed community at large. -- Veracifier (coming soon) -- a network devoted to original reporting, ideas and commentary, featuring a daily show from the blog Talking Points Memo, by Joshua Micah Marshall. "If television reaches broad audiences, and cable reaches niche audiences, our micro-networks are the next step, reaching precisely targeted communities," said Herb Scannell, co-founder and CEO, Next New Networks. "Ultimately, we are about serving audiences." Scannell added, "We are thrilled to have such an impressive roster of investors to round out our funding. And having Jon join the board is not only very exciting, but also a strong validation of our model." The company's series A round led by Spark Capital now includes investments from Saban Capital Group and Benchmark Capital Europe, as well as The Pilot Group, founded by Robert Pittman, former COO of AOL TimeWarner and CEO of MTV Networks, and About Change Ventures, founded by Christiane zu Salm, founder of the German interactive TV channel 9Live. Jonathan Miller, who joins the Next New Network's board of directors, was responsible for setting the strategy and overseeing the businesses and operations of AOL, the world's leading interactive services company. Prior to AOL, Miller was president and CEO of USA Information and Services (USAIS). His experience also includes senior-level positions with USA Electronic Commerce Solutions, USA Broadcasting, Nickelodeon and the Paramount Comedy Channel in London. About Next New Networks Next New Networks is a media company that is creating micro television networks over the internet for targeted communities. It brings together elements of traditional TV networks with Internet functionality, which invites viewers to contribute, share and distribute content. The company is headquartered in New York City and is privately held. For more information, please visit www.NextNewNetworks.com. About Spark Capital Spark Capital is a venture capital fund investing in ideas, entrepreneurs and companies building businesses that transform the distribution, management and monetization of media and content. Spark's General Partners are successful natives of the media and technology industries and have proven track records identifying and actively building market-leading companies in sectors including infrastructure (Qtera, RiverDelta, Aether Systems, Broadbus and BigBand), networks (College Sports Television, TVONE and XCOM) and content delivery systems (Akamai). With deep relationships in technology and media, investing and operations, Spark Capital is uniquely positioned to provide world-class entrepreneurs and revolutionary companies with the intelligence, network and resources needed to succeed in today's marketplace. With $260 million in funding, Spark Capital is focused on investment strategies that are at the nexus of content, distribution and technology. To learn more, visit www.sparkcapital.com. About Saban Capital Group Saban Capital Group, Inc. is a private investment firm specializing in the media and entertainment industries. Based in Los Angeles, SCG was established in 2001 by Haim Saban, founder of Saban Entertainment, a global television broadcasting, production, distribution, merchandising and music company that was sold to the Walt Disney Corporation in 2001 in a $5.2 billion transaction. The firm makes both controlling and minority investments in public and private companies throughout the world, including ProSiebenSat.1, Germany's biggest television group, Keshet Broadcasting Ltd., Israel's leading television network, and Bezeq, Israel's national phone company, and adds strategic value through its established relationships and industry experience. About Benchmark Capital Benchmark Capital is a leading international venture capital firm, committed to helping talented entrepreneurs build great companies which are ultimately focused on long-term growth. The firm was founded in the U.S. (Silicon Valley) in 1995 and opened the European office in London in 2000 and the Israeli office in 2001. Benchmark Capital Europe has three funds totaling approximately US$1.5 billion and has made over 60 investments across a variety of geographies and technology sectors. The European investments include companies such as Betfair (the world's largest online betting exchange), Setanta (the leading pay-TV sports broadcaster), Bebo (the social networking site) and MySQL (the open-source database business). Other Benchmark investments include eBay (Nasdaq:EBAY) and Red Hat (Nasdaq:RHAT). |
