Begbies Traynor advises on ROXi MBO

Begbies Traynor has advised the management of ROXi, the interactive music video streaming service, on a management buy-out enabling the newly-formed company FastStream Interactive Limited (FSI) to launch its interactive TV channels in the US.

The news follows FSI’s acquisition of the business and technology of ROXi, in partnership with a syndicate of investors that includes US TV broadcasters Sinclair Broadcast Group and Gray Television. 

This newly-formed company has also sealed distribution deals with other US-based TV broadcasters to bring ROXi and other new interactive TV channels to US broadcast TV across the US. 

Begbies Traynor’s team was led by partner Asher Miller and deals advisory partner Felix Connolly, with support from senior associates Ben Haines and Olivia Cleary. 

Rob Lewis, chief executive of FastStream Interactive, said: “The new technology, FastStream, will revolutionise Broadcast TV. For the first time in history, consumers tuning into a normal TV channel will find they automatically start at the beginning of the programme, and that they are able to skip, pause or search, even though they are watching normal Broadcast TV.”

Asher Miller, partner at Begbies Traynor Group, added: “We are delighted to have supported the delivery of this highly complex transaction which has involved an international M&A process and the navigation of complicated stakeholder dynamics. 

“We thank all the stakeholders involved for their support in reaching a successful outcome which provides a platform for FSI to disrupt the US and UK TV markets. We look forward to seeing the revolutionary impact of FSI on the NEXTGEN TV industry over the coming years.”