Here are the most read storiesof the week.
unit Vimeoacquired VHX, a platform for premium over-the-top subscription video channels, foran undisclosed sum.
paid $175.7 millionin cash and assumed 9.7% of the pro rata debt of Crown Media Holdings Inc. to acquire a 10% stake that itdid not already own. Crown Media's assets include the Hallmark Channel and HallmarkMovies & Mysteries.
Althoughshort on details, CEO Mike Hopkins told media buyers at Hulu LLC's upfront that the company plans to launch a live,over-the-top streaming service next year. The company also emphasized its commitmentto adding more content, including original series, and the debut of a documentaryfilm unit, showcasing a theatrical about The Beatles.
Multiplatformnews and information purveyor BuzzFeed emphasized its growing Tasty network, aswell as projects from its "multi-hyphenate" talent base, during its newfrontpresentation to media buyers.
realized a $1.3 billionreduction in cost of services and selling, general and administrative expenses infiscal year 2015. Looking forward, the company expects a sustainable reduction of$2 billion or more of run rate operating expenses exiting fiscal year 2016.