J2 Global Bids for Gawker Media
J2 Global Inc.’s publishing division Ziff Davis has reportedly submitted an opening bid of $90 million to $100 million for Gawker Media, which is auctioning itself after filing Chapter 11 bankruptcy on Friday, reports the L.A. Business Journal. Gawker Media of New York is aiming to sell itself after losing a $140 million invasion-of-privacy lawsuit for publishing a sex tape of former pro-wrestler Hulk Hogan.
Digital Domain Holdings Buys Video Game Developer
Digital Domain Holdings of Playa Vista, the parent company of visual effects company Digital Domain, has acquired videogame developer Digital Funk Machine for an undisclosed amount, according to a press release. The acquired company has been merged into a new virtual reality production division called Digital Domain Interactive.
The Virtual Reality Co. Raises $23 Million
The Virtual Reality Co. of Mid-Wilshire raised a $23 million round from Beijing-based Hengxin Mobile Business Co, according to a press release. The funds will be used toward producing and distributing original virtual reality content, particularly in China.
Legendary Launching Live-Streaming Service
Legendary Entertainment of Burbank is launching a paid live-streaming service, reports CNBC. The service is being beta tested, will cost around $5 to $7 a month, and will allow viewers to talk with show talent through live chat and polling features.
Set-Top Box Content Startup Frequency Raises $11 Million
Frequency Networks Inc. of Mid-Wilshire, which aggregates online video content for cable companies to distribute over set top boxes, raised an $11 million round from investors including Beijing’s YOU On Demand Holdings and Oakmont Corp. of downtown Los Angeles, reports Variety. The company’s catalog of content includes videos from major multichannel networks, digital brands, and digital content produced by TV networks.
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