Video Web site Metacafe said Tuesday that it has raised $30 million in a Series C funding round led by Highland Capital Partners and DAG Ventures. Also participating were previous investors Accel Partners and Benchmark Capital. Metacafe, which boasts more than 20 million unique visitors monthly, struck a deal this month with Universal Pictures allowing Metacafe users to create their own "The Bourne Ultimatum" trailers using film clips, special effects and music tracks from the movie.
Endemol gets Mo
Television content producer Endemol has taken a 25% stake in British multimedia production company MoMedia, Endemol parent Mediaset said Tuesday. The $30 million deal for MoMedia capped a busy day for Mediaset. In addition to the indirect acquisition of MoMedia, Italian stock market regulator Consob said that the Abu Dhabi Investment Authority took a 2.1% stake in Mediaset, a deal worth about $220 million, making the group Mediaset's third-largest shareholder.
Shares of Take-Two Interactive Software Inc. surged 8.6% on Tuesday amid a strong debut for the video game publisher's shooting game "BioShock." "This could be a huge profit generator for them," said Mike Hickey, an analyst with Janco Partners. Take-Two shares have been hammered by accounting scandals and product hitches, including the delay of "Grand Theft Auto IV," the latest installment of its key franchise that is one of the best-selling games of all time. Shares rose as high as $15 before closing at $14.55 on Tuesday. They have traded between $10.88 and $24.80 in the past 52 weeks. Tuesday's jump led the gainers on The Hollywood Reporter's Showbiz 50 stock index.