Gemstar-TV Guide International has allocated $2.8 million in Series A funding to Seattle-based BuddyTV, part of the Advanced Media Research Group Inc.
BuddyTV is an online content network providing broadcasting tools and user-complemented content. Gemstar-TV Guide is an international publisher best known in North America for its long-established TV Guide brand.
What makes this investment of considerable interest is that Gemstar-TV Guide is a long established leader in television industry conventional publishing which is now backing a television-related new media startup.
Perhaps more important than the cash funding will be the access which BuddyTV will now have to the highest echelon of the industry, which should certainly help them succeed in a very competitive online market.
GemStar’s Video Search Engine
Back in April Gemstar announced that it would be creating its own video search engine.
It is highly likely that Gemstar’s investment in Buddy TV is somehow linked to its planned video search venture, likely using Buddy TV to compliment its video search engine.
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