Fourth Wall Studios, a Culver City company that creates massively multiplayer online games, augmented-reality worlds and other forms of experiential entertainment, has secured an investment worth as much as $215 million from Los Angeles’ richest man, billionaire entrepreneur Dr. Patrick Soon-Shiong.
The deal, announced Tuesday, includes a $15 million direct investment and access to $200 million in funding, allowing the company to launch its Alternate Reality Entertainment studio.
Fourth Wall’s new studio will focus on developing properties for a variety of platforms — with several projects expected to be announced during the next year. The firm will create original content and partner with film, television, and video game companies to develop other properties, said Jim Stewartson, chief executive of Fourth Wall.
“The best ideas often occur when different industries intersect,” Soon-Shiong, the newly minted chairman of Fourth Wall, said.
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