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Frank brothers’ TRX gets funding, distribs
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A raft of distributors have signed up to the beta test of The Rights Xchange (TRX), the new digital distribution platform being launched by David and Matthew Frank.
The company has also hired a pair of new execs as the commercial launch plans take shape, recruiting Matt Honeybone as CFO and Jennifer Buzzelli to lead TRX North America.
Honeybone is reunited with the Frank brothers, having most recently been at Zodiak Media, the producer and distributor they previously ran. Buzzelli has been a commercial exec at National Geographic and Beyond International and was, most recently, consulting for Turner Broadcasting System in Spain.
Matthew Frank, TRX’s CEO said: “With their considerable expertise, both Matt and Jen have been able to hit the ground running. We are already in the process of securing rights listings from some of the world’s most high profile distributors and rights holders.”
TRX is a digital rights trading platform that allows buyers and sellers to transact via an online platform. The company has just completed a US$2.6 million funding round and plans to roll out early next year. It has recruited a strong roster of distributors for its beta test, which is now underway.
The initial line-up of distributors putting the TRX platform through its paces includes Cineflix Rights, PBS International and Sky Vision. The founders of TRX are also reaching out to channel operators with content to sell, and Discovery Communications and Turner Broadcasting are also testing the service.
TRX is at MIPCOM this week with a particular focus on showing buyers how the system works and how it can help them acquire content. With new funding in hand, TRX has raised US$4.5 million in all.
David Frank, TRX’s executive chairman, said: “Our latest investment round gives us the firepower we need to launch next year. TRX is set to transform the way rights are traded.”
Matthew and David Frank talk in-depth about TRX and its aims and ambitions in the latest issue of TBI. The interview can be read in full here.
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