HDNet receives new investment
August 11, 2003
HDNet has received an unspecified—but “significant,” investment from Todd Wagner, CEO of 2929 Entertainment and former co-founder and CEO of Broadcast.com.
Last week’s announcement said Wagner, of Dallas, Tex., will provide HDNet with “strategic guidance and leadership,” and will create opportunities for additional HDNet partnerships through his entertainment and content production company, 2929 Entertainment, the parent of Rysher Entertainment.
Rysher owns a substantial film and television programming library, including syndication rights to shows such as “Hogan's Heroes” and “Sex and the City” and the rights to “Star Search.”
Mark Cuban, co-founder and president of HDNet, previously worked with Wagner when, as co-founders, they built Broadcast.com, one of the most successful IPOs of the dot.com era. It was sold to Yahoo! for $5.7 billion in July 1999.
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