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Ripe Digital Entertainment, the LA-based digital entertainment company backed by Hearst-Argyle (NYSE: HTV) and Time Warner (NYSE: TWX) investments, has closed down, we have confirmed from sources, and the remaining management is trying to sell the company’s assets. continue reading...
60Frames shuts down, highlights two major problems with online video strategy so far. continue reading...
When hits don’t translate into dollars, from PaidContent.org:
—60Frames Entertainment : Beverly Hills, Calif.-based 60Frames Entertainment has laid off six employees, or about 40 percent of its workforce. The digital entertainment studio announced a number of deals over the summer, including one to produce print- and Web-based coming books with Oni Press, and a content development deal with NBCU, but The Hollywood Reporter says the job cuts won’t affect the output. The brainchild of execs from talent agency UTA and Web-based TV ad company SpotRunner, 60Frames launched in July 2007, with $3.5 million from Tudor Investment Corporation and the Pilot Group. It’s the latest—though likely not the last—video startup to cut staff as a result of the economic climate, including Heavy.com, ManiaTV and Veoh. continue reading...
