Williams Communications invests in iBeam

Williams Communications, a communications carrier, has invested $30 million in iBeam Broadcasting as part of a strategic partnership announced Monday. Under the agreement, the satellite-based streaming media company will use Williams' global fiber-optic network, and the two companies will jointly develop new streaming-media services. Williams will continue to resell iBeam services. Williams will hold a 49 percent stake in iBeam's outstanding voting stock and will elect four representatives to the company's board of directors. Other unnamed investors contributed an additional $10 million in iBeam.