Ripe Digital Entertainment, the LA-based digital entertainment company backed by Hearst-Argyle (NYSE: HTV) and Time Warner (NYSE: TWX) investments, has closed down, we have confirmed from sources, and the remaining management is trying to sell the company’s assets. The news was first reported on DHD. Ripe was founded in 2004, and lived for a long time as a male-focused VOD shorts provider, targeting guys ages 18-34. It raised at least $45 million in its lifetime, with Hearst-Argyle putting up the majority of the money: as of Q1 this year, Hearst-Argyle owned about 23.4 percent of RDE on a fully diluted basis, according to its SEC filings. Other investors included Time Warner Investments, Columbia Capital, and Rho Ventures. The founders included Ryan Magnussen, Patrick Bradley and Steven Voci, all three of whom were founding partners for interactive agency Zentropy, which sold to Interpublic 1999. Ripe had VOD distribution on Comcast (NSDQ: CMCSA) and Time Warner, and over the years started three main brands—RipeTV (men’s entertainment), OctaneTV (auto), and FlowTV (urban)—but was bleeding money, as evidenced from brief statements in Heart-Argyle’s SEC filings. This continues the mini-bloodbath in the online original video entertainment space, with others such as ManiaTV and 60Frames shutting down earlier this year as well. Maybe someone ought to do a rollup of the remaining assets, for whatever that’s worth. See our earlier story today, “Studios-Backed Web Video Efforts Stalled For Now; Who’s Left?”.

Ripe Digital Entertainment, the LA-based digital entertainment company backed by Hearst-Argyle (NYSE: HTV) and Time Warner (NYSE: TWX) investments, has closed down, we have confirmed from sources, and the remaining management is trying to sell the company’s assets. The news was first reported on DHD. Ripe was founded in 2004, and lived for a long time as a male-focused VOD shorts provider, aiming itself at guys ages 18-34. It raised at least $45 million in its lifespan, with Hearst-Argyle sinking in the majority of the money: as of Q1 this year, Hearst-Argyle owned about 23.4 percent of RDE on a fully diluted basis, according to its SEC filings. Other investors included Time Warner Investments, Columbia Capital, and Rho Ventures.The founders included Ryan Magnussen, Patrick Bradley and Steven Voci, all three of whom were founding partners for interactive agency Zentropy that sold to Interpublic 1999. Ripe had VOD distribution on Comcast (NSDQ: CMCSA) and Time Warner, and over the years started three main brands,  RipeTV (men’s entertainment), OctaneTV (auto), and FlowTV (urban), but was bleeding money, as evidenced from brief statements in Heart-Argyle’s SEC filings. This continues the mini-bloodbath in the online original video entertainment space, with others such as ManiaTV and 60Frames shutting down earlier this year as well. Maybe someone ought to do do a roll-up of the left assets, for whatever that’s worth. See our earlier story today, “Studios-Backed Web Video Efforts Stalled For Now; Who’s Left?”.

Looks like TV-station operator Hearst-Argyle (NYSE: HTV) wants more money if it is going to sell its remaining public shares back to privately owned Hearst Corporation. Following discussion with Hearst-Argyle’s board, Hearst Corp. said in a press release that it had increased its offer for the company’s publicly traded shares to $4.50 from $4.00 per share, a 12.5 percent increase on its original offer made last month. The $4.50 offer also represents a 115 percent premium to the $2.09/share price that the Hearst-Argyle shares when the original offer was made, so it remains an attractive one. Hearst Corp. owns about 70 percent of Hearst-Argyle’s Class A common stock, with the remaining stake owned by management and institutional funds. Like most TV companies, Hearst-Argyle has been stung by advertisers moving online; the company’s fourth-quarter 2008 revenue declined 9 percent even with a record amount of political advertising during the election (without political ads, its revenue would have declined well into the double-digits).

Looks like TV-station operator Hearst-Argyle (NYSE: HTV) wants more money if it is going to sell its remaining public shares back to privately owned Hearst Corporation. Following discussion with Hearst-Argyle’s board, Hearst Corp. said in a press release that it had increased its offer for the company’s publicly traded shares to $4.50 from $4.00 per share, a 12.5 percent increase on its original offer made last month. The $4.50 offer also represents a 115 percent premium to the $2.09/share price that the Hearst-Argyle shares when the original offer was made, so it remains an attractive one. Hearst Corp. owns about 70 percent of Hearst-Argyle’s Class A common stock, with the remaining stake owned by management and institutional funds. Like most TV companies, Hearst-Argyle has been stung by advertisers moving online; the company’s fourth-quarter 2008 revenue declined 9 percent even with a record amount of political advertising during the election (without political ads, its revenue would have declined well into the double-digits).

Looks like TV-station operator Hearst-Argyle (NYSE: HTV) wants more money if it is going to sell its remaining public shares back to privately owned Hearst Corporation. Following discussion with Hearst-Argyle’s board, Hearst Corp. said in a press release that it had increased its offer for the company’s publicly traded shares to $4.50 from $4.00 per share, a 12.5 percent increase on its original offer made last month. The $4.50 offer also represents a 115 percent premium to the $2.09/share price that the Hearst-Argyle shares when the original offer was made, so it remains an attractive one. Hearst Corp. owns about 70 percent of Hearst-Argyle’s Class A common stock, with the remaining stake owned by management and institutional funds. Like most TV companies, Hearst-Argyle has been stung by advertisers moving online; the company’s fourth-quarter 2008 revenue declined 9 percent even with a record amount of political advertising during the election (without political ads, its revenue would have declined well into the double-digits).