March 13, 2008

Babelgum invests $15 million in shorts

Internet TV network Babelgum has earmarked Euro 10 million ($15.4 million) fund that will invest in new, original and exclusive content. Babelgum is “transforming into a digital media studio,” spokesperson Andrea Giannotti said of the company, which uses peer-to-peer technology to deliver professionally produced content, instead of the user-generated clips of sites such as YouTube. (Variety)