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Tuesday, June 24, 2014

The Collective deep in the hole

GREEN ON RED: Michael Green’s company The Collective is said to be deep in the hole after defaulting on a nearly $2 million buyout payment to former partners Sam Maydew and Jeff Golenberg. According to a source, much of the bleeding has stemmed from losses incurred by the Collective Digital Studio, headed by Reza Izad and Dan Weinstein, which attempted to derive revenue from creating and pushing content on YouTube, in the manner of the more successful Maker (recently bought by Disney for elephant bucks) and Fullscreen. (6/24a)

 
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