MediaWave bailed out by white knight

Let the webcasts continue...

Troubled webcast company MediaWave has been saved from bankruptcy by a cash injection from entrepreneur John Fox. Fox is the man behind companies such as InteriorSTudios.com and Interactv Studios. MediaWave will now be split into two entities. MediaWave Corporate Services will provide technical solutions for companies while MediaWave Production will handle the front end encoding. Last year, the company hosted pop concerts by Elton John and Madonna, to varying degrees of success which experienced varying success.