Providence Equity makes headlines with active investments
Latest, "New Site", valued at $1 billion
Full Story: Providence Equity invests in NBC-News Corp. venture Source: Providence Business News, August 9th, 2007 Added on August 10th, 2007 at 6:11 pm, by Judy He
Providence Equity Partners has been reported to have invested $100 million in the as-yet unnamed Web site being developed jointly by NBC Universal and News Corp. to bring their collective movie and television show libraries to the Internet, according to a story in today's New York Times.
Providence Equity was also in the news yesterday after the New York Post reported that Warner Music Group Corp. may be bought out by its majority owners, which include the Rhode Island private equity firm, which declined to comment to Bloomberg News on the report.
Providence Equity Partners has been active in the marketplace this year, making investments in NexTag (an online comparison shopping site), whitepages.com, Decision Resources and USIS, while selling BlueStone TV, among others.
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