Bend, Oregon-based regional technology company, BendBroadband has signed up Buffalo-based Synacor (NASDAQ: SYNC), the provider of TV Everywhere, to offer Fox News, ESPN, and more to customers. Synacor’s TV Everywhere service allows Pay TV subscribers to access content from Fox News, Fox Business Channel, Hulu, Hallmark Channel, CNN and more on a variety of devices such as tablets or phones. The service also includes video aggregation, authentication, billing and back office integrations.
The agreement will ensure that BendBroadband customers can now access outstanding and magnetic channels such as Fox News via tablets and phone if they already subscribe to them. Synacor already provides TV Everywhere services for HBO GO and MAX GO.
Announcing the agreement, the BendBroadband director said that the decision was driven by customer demand. BendBroadband said that its customers wanted the freedom to watch TV when they wanted, where they wanted, and on a device of their choice. This customer trend is behind the move to offer TV Everywhere services for free.
Synacor obtains fees from BendBroadband for enabling it to offer this service to customers.
About Synacor
Synacor is a provider of TV Everywhere, next-gen start pages, and cloud-based services across various devices. Synacor provides authentication services for HBO and MAX. Synacor benefits from a fee-based revenue sharing model when it provides TV Everywhere solutions to Pay TV operators. Synacor uses cloud-based and video aggregation technology to enable consumers to access and view TV content on other devices at a time of their choice.
About TV Everywhere
TV Everywhere is Synacor’s white label solution that enables video aggregation, single sign on authentication, mediation, as well as back office integration with billing, cable rights and ID. TV Everywhere has already been used during the London Olympics and other events. Synacor has integrated TV Everywhere with NBCUniversal, CNN, Cartoon Network and other channels. The integration will enable consumers to access these channels easily via online modes, enabling them to follow their favorite channels even when they are on the move.
After this agreement, TV Everywhere covers Hallmark Channel, Fox News, Fox Business Channel, Pac12 Networks, ESPN3, HBO GO, MAX GO, NBCUniversal, CNN, TBS, truTV, TNT, Hulu, Adult Swim, Cartoon Network, Epix, Speed2, BigTen and more.
Synacor has integrated with pay TV providers such as DISH Network, Charter, Mediacom, Midcontinent, MetroCast, Suddenlink and WOW!
Market Movement
The announcement that Synacor has now entered into an agreement to provide TV Everywhere services for Fox News and ESPN with BendBroadband was followed by a surge in the share prices. Synacor shares increased by 12.3% on Wednesday to $5.12 with 832,375 shares traded.
Other shares that saw an increase in prices on Wednesday include Sypris Solutions (NASDAQ: SYPR) that went up by 5.9% to $3.79 with 105,420 shares changing hands. Audience (NASDAQ: ADNC) shares rose by 5.7% to $7.86 with 216,156 shares traded. SORL Auto Parts (NASDAQ: SORL) saw its share prices go up by 5.6% on Wednesday to $2.26 with 184,864 shares traded.
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