Making a Marriage of Convergence

A Hollywood agency, Silicon Valley VCs and AT&T partner to invest in digital media
By Laila Weir,  Newser User
Posted Mar 3, 2008 12:13 PM CST
William Morris Agency chairman and CEO Jim Wiatt arrives for the annual Allen and Co.'s media conference Wednesday, July 11, 2007, in Sun Valley, Idaho. (AP Photo/Douglas C. Pizac)   (Associated Press)
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(Newser) – In an unusual partnership, a Hollywood talent agency is teaming up with two Silicon Valley venture capital firms and AT&T to invest in Southern California digital media startups. The William Morris Agency announced the fund on Monday, in which AT&T is a limited partner. The focus is online content and technology for social networking, mobile games, and advertising, reports the New York Times.

The two Silicon Valley firms involved are Accel Partners and Venrock. Hollywood and Silicon Valley have long circled around each other, but with little success, while some observers consider wireless carriers too controlling to join such partnerships. The fund partners hope their endeavor will open the door to better communication around their shared interests in media and technology convergence.