Video Networks Gets More Monies To Grow On

Video Networks, a business-to-business conduit of media services, has secured a$66 million round of financing.

Headquartered in Atlanta, the company provides spot distribution of commercials and news stories to cable systems via satellite. Its New York office will service ad agencies.

With a $20 million cornerstone investment from the Quadrangle Group in New York, the startup has secured additional funding from Enron Broadband Services, Houston; Halpern Denny & Co., Boston; PanAmSat, Greenwich, Conn.; and Reuters in London.

Led by former Weather Channel founder, Michael J. Eckert, the 3-year-old Video Networks has expanded from 80 to 220 employees in the last 12 months.