Turbine Gets $40 Million From Time Warner
MMOG developer Turbine Inc. has raised $40 million in equity financing, the company revealed today, led by major investments from Time Warner and venture capital company GGV Capital.
Turbine, the company behind popular MMOGs including Asheron's Call, Dungeons & Dragons Online and The Lord of the Rings Online (pictured), has not revealed specific plans for the financing, saying only that the investment will "further accelerate Turbine's growth as a global leader in online entertainment."
"Our investment in Turbine is an important addition to Time Warner's entertainment initiatives," said Time Warner Investments Senior Vice President Rachel Lam. "Online interactive entertainment is a huge growth market and we are very excited about Turbine, its unique capabilities and the obvious opportunities that exist with our own broad portfolio of IP."
Time Warner is the world's second-largest media conglomerate, and this new relationship with Turbine may represent early steps toward establishing itself as a force in MMOG entertainment through one or more of its many IPs. Time Warner owns numerous subsidiary entertainment companies, including New Line Cinema, HBO, Turner Broadcasting, the CW Television Network, Warner Bros. Entertainment, the Cartoon Network and DC Comics.
There must be over a million posts on the various game and game hobby boards that all scream for the same thing. There is so much noise and so much hype that the people who have the funds and the ability to make the decisions do not really know what is what. So, they are led by those business folks, and marketing folks who can only emulate what has already been done, and not think through something that has never been.
Forty Million in funds. It makes me heartsick to think of what could be brought forth as an offering that would change the landscape of entertainment as we know it, rather than to bring out more of the same grinding mind numbing meaningless single player games set against a cardboard stage with other players experiencing the same mindless cycle of run-find-kill.