German video portal Sevenload is now majority-owned by German publishing house Burda. Its subsidiary DLD Ventures has taken over the shares of T-Online Venture Funds and thereby gained the majority stake, Hubert Burda Media announced in Munich.
Financial details were not disclosed. Germany's anti-trust authority Bundeskartellamt still has to approve the deal. Apart from Burda, Sevenload's management and employees are further shareholders.
Industry insiders speculate that Burda wants to develop Sevenload into a broad IPTV platform which is not restricted to computers, but also reaches conventional TV screens using hybrid TV technology.
Through this move, Sevenload would become a potential competitor to Deutsche Telekom's IPTV platform Entertain and its video-on-demand (VOD) portal Videoload. With the exit of T-Online Venture Funds - which belongs to the Telekom conglomerate - Burda apparently wants to prevent conflicts of interest to arise.