ICM takes Razorfish Studios slice

Transaction details not disclosed

By TIM SWANSON

International Creative Management has made a significant private equity investment in Razorfish Studios, making ICM a partial owner in the media company.

Financial details of the transaction were not disclosed.

An affiliate of Internet consultancy Razorfish Inc., Razorfish Studios produces, develops and acquires entertainment properties including film, music, games, books and other digital content, making it available across several platforms: the Internet, wireless and broadband.

Razorfish Studios offers ICM's large stable of talent -- which includes Julia Roberts, Mel Gibson and Michelle Pfeiffer -- a quick and easy avenue into the digital domain. Relationship also will introduce many new-media clients to ICM.

"Razorfish Studios is committed to producing and distributing our entertainment properties across all media," Razorfish Studios CEO Jeff Dachis said. "Our relationship with ICM will put us in the position to choose prime talent for each property while promoting their A-list stars."

Razorfish Studios owns Self-Timer Films, producers of "Being John Malkovich"; the Disinformation Co.; Bust magazine; and Razorfish Subnetwork.

A privately held company, Razorfish Studios was formed in 1997 by Razorfish founders Dachis and Craig Kanarick. It is owned in part by Omnicom and now ICM.

Razorfish shares, which hit a 52-week low on Wednesday at $2.50, closed Friday at $2.69. The stock traded at its 52-week high in February at $56.94.