Edge joins Sky & C4 in backing TRX

Edge Investments has taken a minority stake in Dial Square 86, the holding company for digital distribution platform The RightsXchange (TRX).

TRX is an online deal-making platform for TV rights licensing, already backed by Sky Ventures and the Channel 4 Growth Fund. Both are minority shareholders of the platform.

The platform enables programme buyers to search for content, access instant rights availabilities, negotiate a deal and sign the contract entirely online.

Presently transactions in this market tend to happen offline and person-to-person, and TRX’s bosses say their interface is intended as a complementary tool.

Founded by former Zodiak Media bosses David Frank (pictured) and Matthew Frank in 2015, TRX has spent two years developing the core product, and went into live beta in August 2016.

TRX claims there are over 350 buyers and sellers using the platform, 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. I am pleased to support our Edge Investment Manager, Jo Smith, as she leads our involvement in this transaction.”

Earlier this year, Edge bought into Antidote Productions, the UK-based production company Leila Monks and Laura Jones founded.