Comcast nears deal to buy FreeWheel
Comcast Corporation (NASDAQ:CMCSA) is nearing a deal to acquire FreeWheel, an ad-serving platform for TV networks to bring content online. The deal is expected to be announced soon and is reportedly worth around $320 million. FreeWheel is one of the largest platforms used by TV networks for serving ads along their content online.
FreeWheel launched in 2007 and includes clients like ESPN, FOX, NBC, Sky, Turner, and VEVO. Amazon is also a FreeWheel client and works with them to serve ads along streaming videos.
One of FreeWheel’s customers is DirecTV, which is a satellite TV company that competes against Comcast. This could be a conflict of interest.
Some of FreeWheel’s other investors include Steamboat Ventures, Turner Broadcasting System, Battery Ventures, and Foundation Capital. This news comes on the heels of Comcast’s announcement to acquire Time Warner Cable for $45 billion.