Broadstream Acquires StellarTV; Closed First Round Funding

Broadstream, a Bellevue, WA-based company providing IP-based content distribution and IP-TV services, has completed the acquisition of the assets of StellarTV. StellarTV is a Glendale, CA-based digital media streaming and interactive solutions company.

Concurrent with the acquisition, Broadstream also announced the first closing against its its first round of funding, for an undisclosed amount. Benaroya Capital and other local investors led the first round closing.

Puget Sound Business Journal: Poor market timing is what killed StellarTV’s prospects as an independent venture. Even as it attracted large amounts of capital over the last decade, StellarTV, previously called StellarOne Corp., struggled to find a workable strategy and was a virtual revolving door of CEOs.

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