Hypnotic Merges With Nibblebox
Created 06/12/2001 - 23:00
files/pictures/picture-35.jpgHypnotic and Nibblebox have announced they have completed their merger and closed a second round of financing. The new round of financing was led by Hypnotic's initial investor Vivendi Universal and the media group Dresdner Kleinwort Capital, as well as Nibblebox's initial investors, Knowledge Universe, Windsor Media and Entertainment Media Ventures. The combined company's management team includes the following executives: Elizabeth Hamburg will serve as chairman; Doug Liman will be vice chairman; David Bartis will be CEO; Hypnotic founder Jeremy Bernard will be president and COO; and Daniel Gossels will serve as executive vice president. The merger combines Nibblebox's development and production capabilities and its network of college campus affiliates with Hypnotic's community Website and its established sales, acquisition and distribution channels. Bernard said, "This merger, coupled with our financing, solidifies Hypnotic as the leader in acquiring and developing original entertainment for content buyers, advertisers and brands." Bartis said, "We could not have asked for a stronger group of financial and strategic investors. The investment by these highly respected institutions and entertainment professionals further validates the Company's business model, which is to develop the talents of emerging filmmakers for commercial, television and feature film production." Commenting on the deal, Stacey Snider, chairman of Universal Pictures, said, "Our participation in this transaction reflects our continued commitment to Hypnotic and their mission of identifying compelling programming. The addition of David Bartis (former head of NBC Studios) and Doug Liman (director of GO, SWINGERS and Universal Pictures' upcoming feature THE BOURNE IDENTITY) enhances the company's production and development capabilities and expands the breadth of the management team." Martin Gruschka, Dresdner Kleinwort Capitals representative, said, "Our investment strategy is to focus on well positioned companies with strong management teams and innovative products in the marketplace. As a merged entity, Hypnotic exhibits all of these traits combined with a well-defined business model and also provides a number of strategic partnership opportunities for our other media and entertainment portfolio companies."