Blackrock raises stake in UK Internet media firm Blinkx to 13pct
Blackrock has shown its support for Blinkx by increasing its interest in the criticized internet video firm to 13%, according to The Telegraph.
The multinational investment house is the largest investor in Blinkx. Blackrock announced that it has acquired additional five million shares of the Internet media firm, on top of its existing 11.6% stake, the report detailed.
Shares in Blinkx have dropped more than 40% after a Harvard professor published a critical blog about the firm. In early trading, the shares climbed back 5%, the report added.
Professor Edelman's allegations against Blinkx included the usage of and advertising software to boost its online views and revenues, the report explained.
Edelman's blog concluded: "I submit that Blinkx is carefully withholding this information because the company has much to hide. If I traded in the companies I write about (I don't!), I'd be short Blinkx."
The media firm has strongly denied the accusations against it, The Telegraph reported.