Criterion Capital Partners, the new owner of SeeSaw, has lost a key content deal with Channel 4.
The loss means popular shows such as The Inbetweeners and Peep Show are no longer available on the online TV service.
Criterion Capital Partners, which also bought former AOL asset Bebo, took a 75 per cent stake in SeeSaw from owner Arqiva in July.
As part of the deal Criterion was committed to a funding round try and reinvigorate SeeSaw – the VoD service bought by Arquiva when competition authorities blocked broadcaster’s Project Kangaroo.
Part of Criterion’s plan to bring the struggling online TV venture to profitability was to renegotiate nearly 20 programme content deals.
SeeSaw has so far been unsuccessful in renegotiating its deal with Channel 4 and thus Channel 4 content is currently unavailable on the service.
The news follows reports that former Channel 4 CEO Michael Jackson has decided to not take up his prospective role of SeeSaw chairman, offered to him by new owner Criterion Capital Partners.
According to The Guardian Jackson’s departure is a direct result of the finance issues Criterion is facing over the online TV catch-up aggregator’s funding.
The private equity firm, which also owns social network Bebo, bought a 75% stake in SeeSaw from Arqiva this summer. Jackson’s role as chairman would have been to help revive the online TV site and lead its development under its new ownership.
