Move Networks, a US-based company for broadcasting television over the internet, has effectively put itself up for sale by saying it will review its strategic options and removing its executive president into her tenure.
Move, which is backed by corporate venturing units from Disney, Microsoft, Cisco and Comcast, said Marcus Liassides, executive vice president of sales and business development, will replace Roxanne Austin as executive president, a year after she joined having turned round DirecTV.
Dan Beldy, managing director of Disney’s Steamboat Ventures and a member of Move’s board, said: "The company has become an increasingly attractive asset to a range of potential partners.
"As a result, the time is right to undertake a disciplined exploration of the full range of value maximizing opportunities."
Microsoft provided undisclosed funding to Move’s $46m series C round in 2008 after it had raised $34m the year before from strategic investors as well as venture capital firms Hummer Winblad Venture Partners and Benchmark Capital, blogs reported.