EmptyWarners game for SCi
Warner Bros. has made another investment in the video game space, boosting its stake in London-based SCi Entertainment from 10.3% to 20%. In addition, Warner Bros. Interactive Entertainment also will take over North American distribution for all SCi/Eidos Entertainment titles, including the "Tomb Raider" franchise. Another SCi investor, real estate mogul Robert Tchenguiz, also took advantage of a new public offering to raise his stake to 22%..
'New' Avid, same story
"We are getting the message out that this is a new Avid," CEO Gary Greenfield told Wall Street analysts. On Friday, however, the stock fell 15%, making it the worst performer on The Hollywood Reporter Showbiz 50 stock index. Avid reported a first-quarter loss of $21.1 million, compared with a profit of $20,000 in the same quarter last year. Revenue also fell, from $218.9 million last year to $198.3 million, far short of Wall Street's prediction of $216 million.
Demand Media fills plate
Demand Media, the social media firm headed by former MySpace chairman Richard Rosenblatt, has acquired another vertical Web site, the Daily Plate, which provides diet information, calorie counting, forums and other content around dieting and eating.
Friends of SaysMe
SaysMe has raised Series A financing, led by Intel Capital and including Ashton Kutcher's Katalyst Films and other angel investors. SaysMe said it is creating a library of political and issue-based ads to run on cable networks.