Ripe Digital Bags $32MRipe Digital Bags $32M

LOS ANGELES -- On Demand television and emerging entertainment leader Ripe Digital Entertainment (RDE) announced today that it has received $32 million in Series B financing from Hearst-Argyle, Time Warner Investments, Columbia Capital LLC, and Rho Ventures. Ranked as one of the largest investments in a digital entertainment company made in 2006, RDE will utilize this infusion of capital to launch additional On Demand television networks, build its broadband and mobile strategy and accelerate its development of measurable advertising and compelling programming.

RDE is a first mover in monetizing digital content and is pioneering new forms of television and video that consumers can watch anytime and anywhere, over cable TV, broadband and mobile. The Company's business model provides the insertion of new forms of advertisement into programming with measurement of actual viewership. To date, RDE has launched two multiplatform On Demand networks, RipeTV and OctaneTV, secured advertising from major marketers including Dodge, Cingular, Procter & Gamble and Warner Bros. Video On Demand, and enjoys simultaneous distribution across broadband, mobile, and the more than 30 million Time Warner and Comcast cable subscriber households.

The Company's male focused network, RipeTV has achieved more views on the VOD platform than the majority of others on Cable VOD and with millions of video views monthly, the network outpaces many Internet sites serving the same demographic. Advertisers are benefiting from niche audience reach, and the meaningful reporting and measurement that the Company provides across all platforms. Its patent pending advertising delivery, Connective Advertising(R), connects content and commercials in a fashion providing unprecedented effectiveness and ROI.

"The tremendous investment community response allowed us to choose the best group of investment partners," said Ryan Magnussen, chief executive officer of RDE. "This infusion of cash enables Ripe to produce the best content, and work with elite distribution and talent partners for our current and future networks. We'll be staking a significant claim around a seismic transference of the $70 billion television ad market from traditional to digital entertainment."

Ripe Digital Entertainment (RDE)