Striking Writers Want to Launch Online Video Company

'Virtual Artists' will negotiate its own deals
By Sam Biddle,  Newser Staff
Posted Jan 12, 2008 8:34 PM CST
A group of striking WGA writers are founding their own content distribution company. (AP Photo/Damian Dovarganes)   (Associated Press)
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(Newser) – A group of striking WGA writers are planning to launch their own online content distribution service named Virtual Artists, NewTeeVee reports. The company will offer less money to film creators upfront, but will provide them with more substantial ownership rights to their own work. Members of the WGA will be the main prospect, but promising amateurs will also be courted.

Defending his company's hopes of raising $30 million to fund its efforts, founder and "Air Bud" screenwriter Aaron Mendelsohn wasn't exactly bullish.  “Entertainment has not traditionally been a good investment,” Mendelsohn admitted. “You could burn $150 million on one Golden Compass and lose your shirt.”