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Private Equity Firm Set To Sell Hulu Stake, Says Report

socalTECH

A report today from Bloomberg says that Providence Equity Partners , the private equity firm which owns part of Los Angeles-based Hulu , is selling its stake to the firm's other owners in a deal valuing the firm at about $2 billion. No details on the deal have been announced. Hulu's other owners are Walt Disney Co.,

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Tongal Hits $1M In Rewards Pool For User Generated Video

socalTECH

Los Angeles-based Tongal , which operates a crowdsourced site for creating commercials, reported today that it has hit $1 million in current projects in its reward pool. The site said that so far, its users have earned $4M working on its various creative projects, with many earning more than $100,000 for their work on the site.

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Hulu Entertaining At Least Five Bidders, Says Report

socalTECH

Los Angeles-based video streaming site Hulu is entertaining offers from at least five different bidders, according to a report over the weekend, including one that values Hulu at between $600M to $800M. hulu streaming video merger acquisition content hollywood' READ MORE>>.

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Saban Capital Opens Office In Singapore

socalTECH

Los Angeles-based media and communications investor Saban Capital Group announced Thursday that it has opened up an office in Singapore. Saban''s technology holdings include mobile games firm The Playforge and kid''s online site Zui. saban capital singapore media communications venture private equity hollywood content univision'

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Moviepilot Gets $7M, Sets Up Shop In Los Angeles

socalTECH

As part of the funding, Moviepilot is setting up an office in Los Angeles, and has moved its CEO, Tobi Bauckhage, to LA. The funding was led by DFJ Espirit, and also included T-Venture, Grazia Equity and VC Fund Creative Industries Berlin. READ MORE>>.

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Tubestart: Tapping The Power Of The Crowd To Support Online Video

socalTECH

Despite the huge surge of content specifically being developed for the web--and for sites like YouTube--making that content profitable and sustainable continues to be an issue for content creators. One of them, is unless you have a million dollar, celebrity campaign, you can hardly ever make the home page of those sites. READ MORE>>.

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Relativity, a new star in the space race, raises $140 million for its 3-D printed rockets

TechCrunch LA

The financiers funding the company’s plans are a mix of Silicon Valley venture capital firms and members of Hollywood’s elite, which is only fitting for a company whose headquarters are in Los Angeles, but whose business takes it to the far flung research centers and launch facilities which support the U.S. space industry.