Oxygen Breathes In $100M In New Funding
Oxygen Media, the year-old television/Internet media company dedicated to programming for women, has received a hefty investment of US$100 million from Microsoft co-founder Paul Allen's Vulcan Ventures. Allen's investment firm was an early fund supplier to the fledgling network. The channel has struggled since its inception to find major cable systems to carry its programming. Oxygen was founded by Gerry Laybourne, the former president of Nickelodeon, who helped build the children's network into one of the top rated cable channels in the U.S. and around the world.