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Summary:

White label online video provider Roo Group, which powers video services for MSN, Excite, FT and others, has bought out a small online video…

White label online video provider Roo Group, which powers video services for MSN, Excite, FT and others, has bought out a small online video sharing site MyVideoDaily. The price: $350K and half a million Roo shares (Roo is traded on OTC board), which by yesterday’s price would be a total of around $1.7 million.
Besides MVD’s own site, it operates 18 domains and distributing multiple video software titles, the company said. The site had been a customer of ROO’s for over a year. More details in the release here.

  1. Ralph Signetti Tuesday, January 23, 2007

    So, what does this mean? Roo spent more of their $15mil and will have nothing to show for it?

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