Bitcentral has separated its production and playout business into a standalone company owned by Banyan Software while the remaining digital-streaming and monetization business will operate as ViewNexa.
Bitcentral said today that it has reorganized into two focused media-technology companies, selling its production and playout unit to Banyan Software while the remainder of the business will continue as ViewNexa, a standalone company focused on streaming, distribution and audience monetization.
Under the transaction, Bitcentral’s production and playout business — which serves broadcasters in the United States and Mexico — will continue operating as Bitcentral under Banyan’s ownership. The rest of the company will operate as ViewNexa with a focus on digital streaming, content distribution, monetization and audience engagement.
Company leaders said the split is meant to give each business dedicated leadership, clearer strategic focus and access to long-term investment. The board of directors approved the realignment to “unlock the full potential” of the two businesses that serve different parts of the media-technology market.
Sam Peterson, formerly Bitcentral’s chief operating officer, has become CEO of the standalone Bitcentral, which the company said will continue supporting broadcast news production, playout and workflow technology. Sam Kamel, who had been chief executive of the combined company, will remain CEO of ViewNexa and work with the ViewNexa leadership team led by Scott Alexander, named general manager.
In a statement, Kamel said the move gives both companies “increased clarity, leadership focus and investment capacity to accelerate innovation and better serve customers.” Fred Fourcher, Bitcentral’s chairman and founder, said the split lets each business move forward “with renewed focus” while maintaining the company’s commitment to customers.
Banyan Software’s Reed Fawell, an operating partner, said Banyan will back Bitcentral with a long-term investment approach emphasizing product development and customer success.
Executives said customers should expect uninterrupted support for products and services and that existing teams, products and service relationships will remain in place. Bitcentral said it serves more than 40 leading news organizations across some 1,600 newsrooms.
The companies said the transaction has closed and both are now operating independently under their new structures
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Read the article in TV Newscheck online, here: TVNewscheck.com/bitcentral-splits-into-two-companies.