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EUniverse Inc. agreed to acquire popular newsletter Infobeat from Sony Inc.’s 550 Digital Media Ventures unit, as part of a deal the companies valued at about $17 million.
Under the terms of the deal, the Sony (SNE) unit, 550 DMV, will make a $5 million equity investment in eUniverse (EUNI) and gain a seat on the board. EUniverse will purchase InfoBeat for eUniverse stock valued at $9.94 million. EUniverse also receives the option, subject to certain future conditions, to convert a $2.1
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