Michael Eisner said Monday that his Tornante Co. has spun out Vuguru, its Internet content-production house, with financial backing from one of Canada’s largest media companies.
The investment and distribution partnership agreement between Tornante and Rogers Media Inc., a division of Toronto’s Rogers Communications Inc., turns Vuguru into an independent company and "ensures that Vuguru will remain at the forefront of the ever-evolving business of original new media content," the companies said in a statement. Financial terms were not disclosed.
Eisner, former chief executive of Walt Disney Co., launched Vuguru in late 2006 and was a pioneer in producing scripted shows for web and mobile television distribution, including a murder mystery series called “Prom Queen.” He said he expects Vuguru to produce 10 to 12 series in 2010, gradually building up to 30 a year.
“This deal not only solidifies Vuguru’s position as a leader in the new media landscape, but it also allows us to stay true to our creative and business philosophy of owning and distributing high-quality, story-driven content,” Eisner said in a statement.
The deal includes a long-term distribution deal giving Rogers exclusive Canadian rights to future Vuguru projects.
Rogers Communications owns broadcast and cable television and radio stations across Canada, in addition to Maclean's magazine and several other consumer and industry publications. It also owns the Toronto Blue Jays baseball club.
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