LBN Secures Venture Financing, Names New CEO

Phoenix-based The Legal Broadcast Network announced Thursday that it has found a new chief executive and received an equity investment from Miller Capital Corp., a venture capital and financial services firm headquartered in Scottsdale, Ariz. The amount of Miller's contribution was not disclosed. LBN, which provides legal professionals with data, bandwidth and other Internet services, said Tim Butler is now its president and chief executive officer. In this combined role, the company explained, Butler will oversee its growth and general operations. Prior to joining LBN, he was executive vice president and chief operating officer for DBL Distributing, a private consumer electronics distributorship boasting some 350 employees and nearly $300 million in sales. More information »