Pearl then formed Mobile Content Venture (MCV) along with NBCU, FOX and Ion to commercialize a mobile television service that will use their stations' over-the-air spectrum to deliver TV programming directly to mobile and handheld devices.

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Pearl, formed from a public company that trades on the slippery Toronto Venture Exchange, set up a subsidiary in New Jersey to avoid laws in other states that prevent nonlitigants from financing lawsuits and to give it a U.S. home base.

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