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Executives seek gold in Net start-ups
June 7, 1999 -
Former Disney execs stake entertainment site
June 3, 1999 -
Hollywood heavy Ovitz to launch Net start-up
May 20, 1999
In the last few weeks the former Disney executives have bought an equity stake in Web game and entertainment site GameSpy Industries and said they will join forces to launch a network of entertainment-focused e-commerce sites called CheckOut.com.
Financial terms of the deal were not disclosed, but Wolpert and Peter Levin, who is in charge of Net investments for Ovitz, will join Scour's board of directors, the companies said.
Scour.net allows users to search for audio, video, and images. The firm, founded by five computer science students at the University of California at Los Angeles, said its site gets more than 1.5 million page views per day.
The company is looking to create what it calls an "Entertainment Suite," which will incorporate users' home entertainment systems with the Web.
Ovitz and Wolpert plan to continue taking stakes in Internet start-ups and will create an Internet investment portfolio. The pair have invested in chat community Talk City and plan to announce more investments this summer.
