The digital media platform provider said it anticipates additional funding from Raycom and implements management and board changes.
AI isn’t just a future dream for local news organizations. Its early applications have already arrived, and wider adoption and lower costs will mean an increased presence in a range of roles, experts say.
In his complaint, Gary Gannaway says he was misled by Frankly Inc. and its principals when he agreed to take some of its stock as partial payment for WorldNow when he sold the digital platform company to Frankly in 2015 for $26 million. In response, Frankly says Gannaway’s “mess of allegations” have no merit and asks the court to dismiss the complaint on legal and substantive grounds. Contrary to Gannaway’s central claim, it says, there was never a “developed plan” to integrate WorldNow and Frankly tech.
After a bake off that included two other providers, Bob Prather’s budding small-market station group chooses Frankly for web CMS, mobile apps, online video and OTT. Frankly will also supply strategic consulting and support services as part of the four-year deal.
Digital media platform provider Frankly is melding consumer demographics and website and mobile app data, crunching it so TV station account executives can present the data to digital advertisers when they make their pitches.
The station group lends the digital platform company $14.5 million and extends it a line of credit for $1.5 more. Frankly CEO Steve Chung says the new loan will be used to pay off notes it incurred when it bought Worldnow last year. The noteholders include Raycom and Worldnow founder Gary Gannaway.