Project Kangaroo was effectively killed off by the U.K.'s Competition Commission late in 2008. (See UK Regulator Kills Kangaroo.)
Now two of the driving forces behind Kangaroo, the British Broadcasting Corp. (BBC) and ITV plc (London: ITV), are involved in a similar venture, Project Canvas, along with BT Group plc (NYSE: BT; London: BTA). Project Canvas aims to develop a standards-based platform for the delivery of broadcast-quality TV and on-demand video over broadband. (See BT Unveils Its CDN Plans and BBC, BT, ITV Team Up.)
This Sunday Times report suggests BT may transfer what's left of its property portfolio into the fund to help shore it up.
BT reports its full fiscal year results (to March 31, 2009) on May 14. Its share price is up 5.4 percent to 84 pence in Monday trading.
— Ray Le Maistre, International News Editor, Light Reading