Saturday, August 11, 2007

Private Equity Firm Invests $100 MM for 10% Stake in Yet Unnamed NBC Universal/News Corp. "NewTube" J.V.

Private equity firm Providence Equity Partners has made a $100 million investment in exchange for a 10% stake in NBC Universal and News Corp's still unnamed "NewTube" joint venture. The investment, of course, sets a startlingly high $1 billion valuation for the nascent enterprise which has no presence of any kind yet on the Internet, let alone a clear "end game" (i.e., liquidity event) for investors in its strategic sight.