USDTV Launches - Broadcasting & Cable

USDTV Launches

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USDTV, the company putting together over-the-air digital-TV broadcast consortiums to create the equivalent of a wireless-cable system using station's multicast channels, officially launched Tuesday.

The company's service has been up and running as a test in Salt Lake City for three months. Steve Lindsley, USDTV chairman and CEO, says the service is also now available in Albuquerque, N.M., and is expected to be available in Las Vegas prior to the NAB convention April 19.

USDTV is adding two new services: Fox News Channel and Starz. Starz will be available as a subscription service, with the rate still to be determined.

The company has secured $8.5 million in private equity financing from NexGen Investments and a group of private investors led by Stonebridge Capital. USDTV will get an additional $12 million from the two groups when it hits additional milestones.

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