Social TV service GetGlue will not be merging with Viggle, another social TV company, according to a statement posted on the GetGlue blog. Last November Viggle announced plans to acquire GetGlue for $25 million in cash and 48.3 million shares of stock. However, Viggle didn’t have the funds available at the time, so the deal depended on Viggle raising an additional $60 million, which it was unable to do.
GetGlue’s blog post didn’t give too much away, stating:
We are moving forward as an independent company, and all of us at GetGlue are excited about growing our social network and the leadership position on the second screen. We have a strong product and partnership pipeline for 2013, and look forward to delighting our users and expanding the relationships with major networks, studios and brands.