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Internet

Ovitz invests in broadband search engine

Hollywood heavy Michael Ovitz and Yucaipa Companies partner Richard Wolpert invest in yet another Net entertainment firm, acquiring a controlling stake in broadband search site Scour.net.

Hollywood power broker Michael Ovitz and Yucaipa Companies partner Richard Wolpert today said they have made yet another investment in a Net entertainment firm--this time acquiring a controlling stake in broadband search site Scour.net.

In the last few weeks the former Disney executives have bought an equity stake in Web game and entertainment site GameSpy Industries and said they will join forces to launch a network of entertainment-focused e-commerce sites called CheckOut.com.

Financial terms of the deal were not disclosed, but Wolpert and Peter Levin, who is in charge of Net investments for Ovitz, will join Scour's board of directors, the companies said.

Scour.net allows users to search for audio, video, and images. The firm, founded by five computer science students at the University of California at Los Angeles, said its site gets more than 1.5 million page views per day.

The company is looking to create what it calls an "Entertainment Suite," which will incorporate users' home entertainment systems with the Web.

Ovitz and Wolpert plan to continue taking stakes in Internet start-ups and will create an Internet investment portfolio. The pair have invested in chat community Talk City and plan to announce more investments this summer.