MCM inks Microsoft deal

After years of incurring substantial losses, and causing the board to fracture late last year, MCM's troubled Movideo platform looks more secure after the company signed a four-year deal with Microsoft.

MCM have referred to the deal as a 'vindication of our strategy'. CEO Simon Joyce (pictured) commented: 

“Our decision to invest in an online video player, which sits alongside our content business MCM Media and digital agency Igloo, has always been a very deliberate strategy"

“For us as a group, this was a big decision to invest in a start up, but ultimately this board is united in backing the product"

Movideo has caused enormous conflict internally at MCM with its former Chairman Julian Playoust calling it 'a cash burn' in an attempt to wind back the investment.

Ultimately, Playoust's position was at odds with major shareholder Tony McGinn and Playoust was removed as Chairman.