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Fourth Wall Studios, a Culver City company that creates massively multiplayer online games, augmented-reality worlds and other forms of experiential entertainment, has secured an investment worth as much as $215 million from Los Angeles' richest man, billionaire entrepreneur Dr. Patrick Soon-Shiong.
The deal, announced Tuesday, includes a $15 million direct investment and access to $200 million in funding, allowing the company to launch its Alternate Reality Entertainment studio.
Fourth Wall's new studio will focus on developing properties for a variety of platforms -- with several projects expected to be announced during the next year. The firm will create original content and partner with film, television, and video game companies to develop other properties, said Jim Stewartson, chief executive of Fourth Wall.
"We feel we are just at the right time, right at the crux of where this kind of entertainment will come into its own," said Stewartson, who co-founded Fourth Wall in 2007. Previously, he founded 42 Entertainment, where he worked on branded entertainment projects, including several alternate reality games. "To be able to partner with Patrick to have the resources to build the properties, it is just a very good time for us."....
Read the full article on the Hollywood Reporter
Tuesday, March 8, 2011
Big Wow. Fourth Wall Studios Secures $200 Mil Commitment From L.A. Billionaire - by Daniel Miller of The Hollywood Reporter
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