Edge Investments has taken a minority stake in Dial Square 86, the holding company for The RightsXchange Ltd (‘TRX’).
Founded by former RDF bosses David Frank and Matthew Frank in 2015, TRX is an online deal-making platform for TV rights licensing. It enables TV programme buyers to search for content, access instant rights availabilities, negotiate a deal and sign the contract entirely online.
Edge Investments is a specialist investment house focused on the creative industries sector, in particular media and entertainment. Recent investments include factual indie Antitdote and tech company Newsflare.
TRX is also backed by Sky Ventures and the Channel 4 Growth Fund, both of which are minority shareholders.
TRX has spent the past two years developing the core product, and went into live beta in August 2016. It says there are over 350 buyers and sellers using TRX including Discovery Communications, Turner Broadcasting, All3Media International and Sky Vision.
David Glick, CEO of Edge, said: “The launch of TRX is a genuine game-changer for television rights licensing. At Edge we have invested in TV production and content creation over many years and this one of the most exciting innovations that we have witnessed, as an investment team.”
Edge Investment Manager, Jo Smith, added: “TRX is a really exciting business: it is the only platform that offers sellers and buyers the means to close deals entirely online from start to finish. Buying and selling TV rights has historically been unnecessarily complicated and inefficient.”
David Frank, TRX Executive Chairman, said: “This investment will help drive our global rollout later this month. We have been emboldened by the positive response to our beta-test and will be taking a whole raft of new features to market, helping TV rights executives close more deals, more easily.”
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