ROK passes on Xero acquisition

ROK Entertainment Group Inc. said it has broken off negotiations to acquire fledgling mobile virtual network operator (MVNO) Xero Mobile Inc.
ROK, a U.K.-based mobile media firm, provides live and on-demand video to wireless users around the world. The company in September began talks with Xero>, which has long planned — and, thus far, failed — to target college-age students with an ad-subsidized MVNO service.
Xero has been in pre-launch mode since its unveiling two years ago. Representatives from Xero, which is based in Beverly Hills, Calif., were unavailable for immediate comment.