By Jill Goldsmith OTT platform Future Today said Monday it’s merger agreement with Cinedigm has been terminated and it’s entered into a content licensing arrangement with the company instead to extend its content offering.
The merger agreement, worth about $60 million, was announced a year ago. Future Today is privately held and majority owned by founders Alok Ranjan and Vikrant Mathur, who started the company in 2006.
In a statement Monday, they declined to elaborate on why the deal with Los Angeles-based company run by Chris McGurk didn’t close but said it was an amicable parting of ways.
But the company did report that February marked the best performance ever of its channels, with users up almost 60% year on year and streaming hours
Read more on deadline.com
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