It seems broadcast company Arqiva was the other party still interested in purchasing Project Kangaroo Orange pulled its offer. In a deal said to be in the £8 million region, Arqiva will acquire the Project Kangaroo video-on-demand platform developed by the BBC Worldwide, Channel 4 and Five in a joint venture.
The takeover gives Arqiva control over the "hardware and software technology and related intellectual property developed for Project Kangaroo." Arqiva says it aims to launch its own one-stop-shop video-on-demand service, with content available from a number of UK broadcasters with both free and paid-for content available.
Whether or not Arqiva will be able to secure as much content from the BBC, ITV and Channel 4 as the three would have provided should they have been allowed to launch Project Kangaroo remains to be seen. Hopefully once the acquisition is finalised in the next few weeks some more information will be forthcoming.
With US video-on-demand stalwart Hulu planning a UK launch - by all accounts - come September, Arqiva is likely to want to get a move on.