Music Video Streamer Roxi ends up support from US stations | Money news

A music video streaming service for music, which includes shareholders the U2 bassist Adam Clayton this week that he has sealed a buyout of management after months of discussions.

Sky News understands that the assets of Magicworks, which are traded as Roxi, were sold to a new company called Faststream Interactive (FSI), with two large American channels being supported.

Sources said that the Graumedia Sinclair and New York stock exchange listed in Nasdaq belonged to the FSI among the new shareholders. The introduction of new interactive TV channels in the United States are expected to take place shortly.

According to the sources, the deal, which was about increasing millions of pounds of new equity from new and existing investors, caused former believers to be repaid completely.

The search for funds from the USA was considered important because the program uses its Fastcreen technology.

Roxi was founded in 2014 and described himself as the first “make-for-television” service in the world, so that the audience could stream millions of songs and download hundreds of thousands of karaoke tracks.

The shipment channels enable spectators to skip content in which they are not interested.

Simon Cowell, Kylie Minogue and Robbie Williams were among the prominent figures in the music industry that had previously been appointed Roxi investors.

Financers like Guy Hands and Jim Mellon are said to be part of the new owners' structure.

In response to an investigation by Sky News, Rob Lewis, Managing Director of FSI: “The new technology, Faststream, will revolutionize Broadcast -TV.

“For the first time in history, consumers who switch to a normal television station will start automatically at the beginning of the program and that they can skip, pause or search, even though they look at normal broadcast television.”

The Begbies Traynor Group, the professional service company and the Rockefeller Capital Management have advised the process.