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A+E Networks invests in UK's TVPlayer

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A+E Networks invests in UK's TVPlayer

A+ENetworks led a £5 million funding round for streaming TV platform TVPlayer, according to an Oct. 3 news release.

Venture capital firm Beringea and TVPlayer's other existinginvestors also participated in the financing round. TVPlayer will use theproceeds to boost its content roster and expand its footprint across the U.K.

A+E Networks' Blaze channel, which in the U.K. on Sept. 20, willbecome part of TVPlayer's free-to-air lineup.

As part of the investment round, TVPlayer has spun off as astand-alone company from its parent company, Simplestream, and will soon be ledby a new management team. TVPlayer founder Adam Smith and co-founders LewisArthur and Dan Finch will continue holding significant stakes in the business.

A+E Networks is a joint venture between 's andHearst Corp.