Digest: Disney dunks; Zagat options
Disney and four Chinese investment firms are set to take an 11% stake in the NBA's Chinese unit, the league said Monday. The investors will pay about $253 million, valuing NBA China at about $2.3 billion. Tim Chen, the former CEO of Microsoft Greater China, will lead NBA China.
Zagat Survey said Monday that it has hired Goldman Sachs to help it explore its strategic options, including a potential sale or joint ventures. The New York Times reported that a sale could attract broad interest from such players as Barry Diller's IAC/InterActiveCorp, News Corp. and telephone companies seeking mobile content. Wall Street observers said the company could fetch about $200 million.
Online video advertising network Tremor Media has closed a Series B round of funding worth $11 million. The capital injection was led by Canaan Partners and Masthead Venture Partners, which both also led Tremor's previous funding. The company has now amassed $19.4 million in financing. Tremor Media will use the funds to accelerate its growth plans and expand its product offering, among other things.
BERLIN -- Jan Mojto's production/sales group Beta Film has taken a 49% stake in Munich-based production house Dreamtool Entertainment. The made-for-TV specialist is in postproduction on the adventure event film "The Charlemagne Code," for leading German commercial channel RTL. The deal with Beta will allow the boutique to expand into big budget international co-productions.