Hearst Corporation makes equity investment in Spooky Cool Labs
Giant media company Heart Corporation announced today that it made a minority equity investment in social-mobile game developer Spooky Cool Labs. The financial terms of the investment were not disclosed.
Spooky Cool Labs recently released its first social game The Wizard of Oz based on Warner Bros.’ iconic film. The Wizard of Oz is a 3-D citybuilding game that takes full advantage of the licensing deal Spooky Cool Labs made with Warner Bros.; featuring the film’s characters, music and likenesses, including the likeness of Judy Garland’s (Dorothy), Margret Hamilton (the Wicked Witch of the West) and others.
Explaining the investment, president, Hearst Entertainment & Syndication at Hearst Corporation Scott Sassa cited the talent at Spooky Cool Labs, which includes CEO Joe Kaminkow (formerly vice president of game design for IGT) and chairman Larry DeMar (who worked on classic video games such as Defender, Robotron, and Stargate, and hit pinball machines, such as Black Knight, High Speed, Fun House, and The Addams Family).
“We plan on pairing our intellectual property and access to third-party intellectual property with the game development expertise of Spooky Cool to build a big presence in this space,” Sassa added.
Inside Social Game will publish its review of The Wizard of Oz at noon PST today.