Arqiva to close SeeSaw

Arqiva is set to close SeeSaw after failing to secure an investment partner or buyer for the online TV service.

The decision comes five months after Arqiva appointed Ingenious Media to find a partner or buyer for the business, which will shut down next month.

“[SeeSaw] no longer fits with the strategic direction in which we are taking Arqiva and requires considerable investment to succeed in an increasingly competitive market,” a spokesperson said. “We have tried to find an investment partner, however this has not proved possible.”

SeeSaw was launched using the assets of ITV, Channel 4 and BBC Worldwide’s failed Project Kangaroo venture, which Arqiva acquired for around £8 million.