The deal underscored the growing importance of strategic investors motivated by business strategies and not just financial incentives, points out Porter Bibb, managing partner of MediaTech Capital.

FORBES: All It Takes Is A Smile And A Hug To Jump-Start NY Tech

Things started to go awry, he says, when Bush brought in New York investment banker Porter Bibb to raise money and stopped returning Schonfeld's e-mails this past summer.

FORBES: Reese's Pieces

"I think it's a very, very well-done news network, " said media expert and former White House correspondent Porter Bibb of Mediatech Capital Partners in New York, where he listens to a related network, Al Jazeera English, now available in a tiny fraction of U.S. markets.

CNN: SHARE THIS