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LiveUniverse Buys Revver Video Site

By Sergio Published on .

LiveUniverse bought Revver for an undisclosed amount, NewTeeVee reports. Last week reports surfaced that the struggling Web video company was shopping itself for $300,000-$500,000 and assumption of its debt. Contrary to rumors that their deal fell through, LiveUniverse officially made the purchase for more than what Revver was asking (somewhere under $5 million). Revver's management team will continue to operate under its new ownership.
-Sergio Ibarra
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