NEW YORK--(BUSINESS WIRE)--Next New Networks, a consumer media company launching micro television networks over the Internet, today announced it has received $8 million in funding from Spark Capital, a leading digital media venture capital firm. The funding will be used to accelerate the company's rapid growth and further product development.
Herb Scannell, a co-founder of the new company and former vice chairman of MTV Networks and president of Nickelodeon, will lead the partner group as CEO. The partners, comprised of traditional and new media veterans, include: Fred Seibert, founder of Frederator Studios, original creative director of MTV and former president of Hanna Barbara; Emil Rensing, original member of the AOL Greenhouse and creator of the popular VOD Cars podcast; Jed Simmons, former COO of the Sundance Group and senior executive at Excite and Turner Broadcasting; Tim Shey, co-founder of Proteus and veteran producer of interactive and mobile media.
“Our thing is simple: We’re audience people,” said Scannell. “We’re championing and targeting communities that are making and distributing robust content, and providing them a home base with networks, built specifically for the Internet.”
“Next New Networks has brought together some of the best minds from traditional and new media,” said Dennis Miller, General Partner, Spark Capital. “The team has a proven track record and have created billions of dollars of brand value in both cable networks and programming and has first mover experience in mobile, podcasting and video blogging. We are excited by the opportunity this group will have to make an impact on the next generation of Internet brands.”
About Next New Networks
Next New Networks is a media company that is creating micro television networks over the internet for targeted communities, bringing together elements of traditional TV networks with Internet functionality that invites viewers to contribute, share and distribute content. The company is headquartered in New York City and is privately held. For more information, please visit www.NextNewNetworks.com.
Spark Capital is a venture capital fund investing in ideas, entrepreneurs and companies building businesses that transform the distribution, management and monetization of media and content. Spark's General Partners are successful natives of the media and technology industries and have proven track records identifying and actively building market-leading companies in sectors including infrastructure (Qtera, RiverDelta, Aether Systems, Broadbus and BigBand), networks (College Sports Television, TVONE and XCOM) and content delivery systems (Akamai). With deep relationships in technology and media, investing and operations, Spark Capital is uniquely positioned to provide world-class entrepreneurs and revolutionary companies with the intelligence, network and resources needed to succeed in today's marketplace. With $260 million in funding, Spark Capital is focused on investment strategies that are at the nexus of content, distribution and technology. To learn more, visit www.sparkcapital.com