London’s United News & Media Plans to Invest $30 Million in Creative Planet
United News & Media said it will invest $30 million in Creative Planet Inc., a closely held U.S. company that provides information and services to the film and television industries through a Web site.
The owner of PR Newswire will also get the exclusive sales and marketing rights for Creative Planet’s products and services in Britain and Ireland, the company said in a statement released on the U.K.’s Regulatory News Service.
London-based United is increasingly focused on technology trade publishing and exhibitions after selling businesses valued at $4.6 billion this year, including a stake in Britain’s Independent Television network and the Express newspapers.
Los Angeles-based Creative Planet, whose founders include former Viacom Inc. Chairman Frank Biondi, will also take control of United News’ “The Knowledge,” a database of film and TV industry professionals.
Creative Planet, which provides filmmakers such as George Lucas and most major Hollywood studios with software and services that help manage film productions, will use the cash injection to develop its services online and through wireless devices.
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