Norwegian telecoms group Telenor has announced that it is closing its online TV platform Comoyo due to tough competition and high content costs. Broadband TV News reports that Comoyo was launched in 2011 and was intended to be a rival in the Nordic region to large international players such as HBO and Netflix. Sven Thaulow, the CEO of Comoyo, disclosed that 40 jobs will be lost as a result of the closure.
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