Monday, July 13, 2009

ManiaTV Founder Buys Assets

Drew Massey, the founder of ManiaTV, has reportedly purchased the assets of defunct Internet web content firm ManiaTV, says the New York Times. Details on the buyback were not disclosed, but the Times says that the acquisition did not include ManiaTV's Los Angeles production studios. A source close to the firm told socalTECH in June that a deal was in the works. ManiaTV shut down in March, after Comerica bank pulled the firm's line of credit, and it was unable to find additional venture funding. ManiaTV created and distributed its own, original web content and video shows.