U-Mogul.com will launch soon as a movie venture funding site where online investors can invest in different funds of upcoming theatrical movies--everything from action-adventure to horror and chick flicks. Universal Studios is a partner in the venture, according to industry executives. Toby Blue, VP-communications at U-Mogul.com
, and a co-founder of the Santa Monica, Calif. based-business, said, "Unfortunately, I can't tell you anything about it yet." Industry executives said the site is already pitching advertising agencies to work on the business, and it's estimated that each of the movie funds could have an advertising budget of $15 million to $20 million.
Copyright August 2000, Crain Communications Inc.