Content is king, as the old maxim goes, and investors clearly took this to heart with GoPro (NASDAQ: GPRO) stock on Wednesday. The digital camera maker's share price rose by nearly 3% on the day, thanks to the announcement of a new content deal.

GoPro, in collaboration with streaming video specialist Cinedigm (NASDAQ: CIDM) and content producer Roundtable Entertainment, is developing the GoPro Channel, Cinedigm announced Wednesday morning. As it nearly goes without saying, this channel will prominently feature footage from GoPro's "action cameras" and is planned for a launch later this year.

The channel's content will be sourced from user GoPro footage and professional video creators.

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Source Fool.com