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Comcast Buys Digital Media Services Firm ThePlatform

Exclusive: Comcast Interactive, the internet arm of cable giant Comcast, has bought out Seattle-based digital media services provider thePlatform, has learned from sources. ThePlatform CEO Ian Blaine confirmed the deal to me in a short phone call. The price, my sources tell me, is in the $70-$80 million range north of $80 million range (some late night sluething confirmed some part of this…more tomorrow when I find out), and is down from just over $100 million that the company expected to get. The negotiations had been on for a long time, since I heard about the talks almost six months ago. Ian refused to comment on the price.
ThePlatform will stay as an independent unit within Comcast Interactive, and will continue servicing its clients such as, Verizon VCast, Scripps and others. The 70-employee strong company, founded in June 2000, will stay in Seattle. It raised about $8 million in funding from the new digital media VC firm Spark Capital, so that was a quick exit for the VC firm.
Ian will report into Sam Schwartz, president EVP-strategy and development, of Comcast Interactive Media.
Comcast has had a long standing relationship with ThePlatform on the online side, where’s video portal TheFan has been powered by thePlatform since the beginning.
I’ll have more later…running off now to our NYC mixer tonight.
Related: Comcast Acquires Audio-Video Search Firm StreamSage
Disclaimer: thePlatform has been a long time advertiser on our sites.

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