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Pan-European pay TV giant Sky has acquired a $4.5 million (4 million euros) stake in French streaming video service Molotov, which recently launched its app that allows subscribers to watch or record live TV across devices.
The companies didn’t disclose the size of Sky’s stake. “This investment is part of a larger Molotov financing round and is the latest in a series of Sky investments in innovative startup companies,” Sky said.
Sky operates pay TV services in the U.K., Ireland, Germany, Austria and Italy. In the U.K., it also offers streaming-only service Now TV. Management has said it could launch streaming services in other markets as well.
Sky earlier in the year also unveiled a $45 million investment in and strategic partnership with iflix, a streaming TV service in Southeast Asia.
Molotov is led by CEO Jean-David Blanc, along with CanalPlus founder and current Cannes Film Festival president Pierre Lescure and former TF1 director of strategy and innovation Jean-Marc Denoual.
The app launched in France in July. The company as of then had signed deals with the 33 free-to-air TV channels in the country, including major networks TF1 and M6, as well as specialized channels such as Paramount for films and Disney for kids.
The basic service is free, with two packages at €3.99 ($4.40) and €9.99 ($11.03) offering expanded bookmarking capabilities and access to pay channels.
21st Century Fox owns a 39 percent stake in Sky.
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