SeeSaw takes a hit

The online TV company SeeSaw has taken a huge hit recently – not only has the private equity firm lost a key content deal with Channel 4, but the company’s designated chairman, Michael Jackson, has stepped down from his position.

Jackson’s decision to walk away from the company is believed to be down to a ‘wrangle over financing that threatens the online TV venture’s future’, according to The Guardian.

Criterion Capital Partners, which also owns former AOL asset Bebo, bought SeeSaw from the broadcast transmission firm Arqiva in early July.

The company hired Jackson, former controller of BBC One and BBC Two, with the hope that his expertise could turnaround the company’s financial troubles.

Since the deal was completed in July, nearly 20 content and programming deals have been renegotiated. However, shows from Channel 4, such as The Peep Show and The Inbetweeners have been removed from the service.