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Digital media firm Velocity targets scribes


December 18, 2007 Former News Corp. and AOL executives are teaming for a new digital media investment firm that could emerge as a source of funding for striking writers. Velocity Interactive Group, which was set to be formally unveiled Tuesday, will pair former AOL CEO Jonathan Miller and former Fox Interactive Media president Ross Levinsohn with ComVentures, a Silicon Valley venture-capital firm. Velocity is starting with investments in digital-media storage company Fabrik and music-focused virtual world Doppelganger, but Levinsohn said he is looking toward the striking talent of Hollywood and New York for future investments.

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