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Short Take: iBeam acquires financial company

iBeam Broadcasting says it has agreed to buy financial streaming media company NextVenue for $375 million in stock. iBeam, which runs a streaming media satellite network that promises more efficient audio and video feeds over the Internet, said the purchase will augment its existing entertainment offerings by giving it a foothold in financial services. NextVenue provides streaming services to Wall Street giants including Morgan Stanley, Charles Schwab and Goldman Sachs.

iBeam Broadcasting says it has agreed to buy financial streaming media company NextVenue for $375 million in stock. iBeam, which runs a streaming media satellite network that promises more efficient audio and video feeds over the Internet, said the purchase will augment its existing entertainment offerings by giving it a foothold in financial services. NextVenue provides streaming services to Wall Street giants including Morgan Stanley, Charles Schwab and Goldman Sachs.