Interesting advert in today’s Financial Times for Streetbroadcast which is now firmly in administration. The process is being handled by MCR
We believe that Streetbroadcast’s venture capital owners, New Smith Capital and Avenue Capital decided it was not appropriate to undertake another round of funding.
Mungo Knott, managing director of ad sales at Streetbroadcast (and main man since the strange disappearance of CEO, Lee Arthur) was at pains to point out to us that Streetbroadcast’s sales network, Digital Life, (a JV with Avanti Screenmedia) is unaffected by Streetbroadcast’s move into administration and is still up and running.
MCR will be looking to sell the business in its entirety or accept offers for parts of the business. We assume that they will have already knocked on a certain door in Geneva.