×
You will be redirected back to your article in seconds

Investment game

Liberty Digital targets men in deal with UGO

Liberty Digital, the tech investment arm of Liberty Media Group, said Thursday it has invested in UGO (Unified Gamers Online) Networks, an online entertainment site targeted at men 18-34.

Liberty Digital made the investment as part of UGO’s fourth round of financing.

Financial terms of the multimillion-dollar deal were not disclosed, but Liberty becomes the largest investor in the New York-based Web site that provides news and info on music, games, film, TV, animation, extreme sports and technology.

Liberty Digital, which is developing interactive television programming for distribution over the Internet and other digital platforms, may use the site to develop content. The site “offers a potentially tremendous opportunity for our interactive television programming services,” said Liberty Digital prexy and CEO Lee Masters.

UGO attracts more than 4 million visitors monthly.

“Liberty Digital’s weighty investment in UGO clearly demonstrates its confidence in our continuing dynamic growth,” said UGO Networks chairman Joe Robinson. “The investment provides UGO with a strong capital base to further our expansion as the dominant force in the 18- to 34-year-old male market.”

Liberty Digital already holds stakes in Interactive Pictures Corp. (IPIX), TiVo, Drugstore.com, iVillage.com, Priceline.com, Quokka.com and Sportsline USA.

In September, Liberty Media formed Liberty Digital and transferred its Web assets to the new company.

More Biz

  • Tencent Music Raises $1.1 Billion for

    Tencent Music Raises $1.1 Billion for IPO

    China-based music streaming company Tencent Music Entertainment Group said it raised nearly $1.1 billion in its U.S. initial public offering, according to Reuters. Earlier this year, the company was expected to be valued at as much as $30 billion and raise $4 billion for its IPO, but those estimates were slashed in September. he IPO [...]

  • Katie Vinten and Justin Tranter Variety

    Justin Tranter and Katie Vinten Partner With Warner Bros. for New Label

    As previously reported, hit songwriter Justin Tranter and Warner/Chappell Publishing’s Katie Vinten are launching a new label in partnership with Warner Bros. Records, the company announced officially today. In her new role, Vinten, most recently the company’s co-head of A&R, will also serve as an A&R Consultant to Warner Bros. Records and will continue with [...]

  • Ella Mai

    Ella Mai Signs Worldwide Deal With Sony/ATV Music Publishing

    Singer Ella Mai, who is enjoying a worldwide smash with her song “Boo’d Up” and was nominated for two Grammy Awards last week, has signed a worldwide deal with Sony/ATV Music Publishing. The song peaked at No. 5 on the Billboard Hot 100 and has been streamed more than 650 million times in the U.S. [...]

  • European Union Competition Commissioner Margrethe VestagerSlush

    Liberty Global, Vodafone's $22 Billion Cable Deal Under Investigation by EU

    The European Commission has started an in-depth probe into Vodafone’s proposed acquisition of a raft of Liberty Global assets in Europe. The commission cited concerns that the deal could reduce competition in Germany and the Czech Republic. “It’s important that all EU consumers have access to affordable and good quality telephone and TV services,” Commissioner [...]

  • Kirk Kerkorian

    Kirk Kerkorian's Estate Settles With Widow for $12.5 Million

    The estate of late media mogul Kirk Kerkorian has a reached a settlement with his widow, who claimed she was entitled to a third of his $1.8 billion fortune. Una Davis will receive just $12.5 million under the deal, which is set for court approval on Wednesday. Davis married the mogul in March 2014, becoming [...]

  • Meg Whitman and Jeffrey Katzenberg Strictly

    Variety's Innovate Summit 2018: What We Learned

    New insights into how data collection plays a role in the tech and entertainment spheres were revealed at Variety’s annual Innovate summit held in Los Angeles on Wednesday. Meg Whitman and Jeffrey Katzenberg discussed the exciting future of television designed for mobile phone viewing with their new streaming platform, “Quibi,” an executive from “The Ellen Show” discussed the [...]

More From Our Brands

Access exclusive content