Exec shakeup at webcaster JumpTV

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TORONTO -- Canadian webcaster JumpTV on Monday said that it has shaken up its executive suite, with former eBay Canada executive Jordan Banks set to succeed G. Scott Paterson as CEO effective next month.

The Toronto-based Internet broadcaster, which recently diversified into sports Web sites, said that Paterson will step aside as CEO and chairman to become executive chairman.

That will make way for Banks, a former eBay Canada managing director, to take over day-to-day control of the webcaster beginning Nov. 12. Before joining eBay Canada, Banks handled licensing and international business at the NHL Players' Assn., and before that practiced corporate law at Toronto legal firm Goodmans Llp.

The management shuffle also includes JumpTV president and COO Kaleil Isaza Tuzman indicating that he will resign his post Jan. 8 to pursue other interests. He will remain on the JumpTV board of directors.

"During the past two years, Kaleil Isaza Tuzman and I worked to lay the foundation for JumpTV's growth," Paterson said Monday. "We, along with the board, concluded it was time to bring in a new CEO with a track record of successfully building and running companies on a day-in and day-out basis."

Paterson took JumpTV from its origins in streaming foreign-language TV channels on PC computers for a subscription fee to a webcaster distributing digital ethnic signals on regular TV sets.

The Canadian webcaster delivers about 235 ethnic TV channels from 70 countries via the Internet to about 24,000 paid subscribers, half of which reside in the U.S. market.

JumpTV also has partnered with cable and satellite TV services that already retransmit foreign-language channels from around the world to reach ethnic audiences beyond their footprints.

Most recently, JumpTV in July acquired the Florida-based XOS Technologies' sports Web sites business for $60.3 million in cash (HR 7/18).
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