money digest


Gaia investment

Gaia Online, a Web-based virtual world aimed at teens, has received an investment from Time Warner as part of a $12 million round of financing completed last year, the companies said. Financial terms of the deal were not disclosed. Gaia officials said that TW did not gain any managerial influence over the company as a result of the investment. Gaia unveiled a similar investment last month from Sony Pictures. Gaia is one of a handful of avatar-filled virtual worlds that are drawing noteworthy numbers of teens and children. The company said its site now reaches 3 million users each month who on average spend an hour per day on it.

One for RCV

Netherlands-based independent distributor RCV has been acquired by North American outfit Entertainment One, RCV owner Sanoma said Wednesday. The agreement marks Entertainment One's second acquisition in the European market and follows the company's stated goal to become a global entertainment content ownership and distribution business. RCV will become part of Entertainment One's Filmed Entertainment division, which is headed by president Patrice Theroux. RCV is the largest independent distributor of filmed entertainment in the Benelux countries.

Gemstar, Sony pact

Gemstar-TV Guide International has signed a multiyear agreement with Sony USA to integrate Gemstar's interactive program guide for consumer electronics devices into Sony's line of TV products. The deal extends a previous deal and builds on licensing agreements between the firms in the U.S., Japan and Europe. Financial terms were not disclosed.