The agreement sees News Corp - which uses Roo's technology to power video services for both the Times and the Sun news sites in the UK - take five per cent of current shares with an additional 5 per cent after achieving certain revenue milestones through using its products and services.
"We are excited to be working with News Corp to further harness the enormous opportunity of online video across its global network of prestigious media brands. We are further encouraged by News Corp's proven track record of identifying and partnering with online leaders early in their growth," said Robert Petty, CEO and chairman of Roo.
Roo, which also syndicates video content with FOX News and Sky News, last week bought MyVideoDaily to take advantage of its community features - such as user comments and video rating systems - and get access to 750,000 computer desktops through its video desktop application.
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