Gaiam Gives Lime Financial Boost8/05/2005 3:39 AM Eastern
Revolution Living LLC’s Lime TV will receive a $7 million investment from a leading lifestyle-media company as part of a multifaceted strategic relationship designed to accelerate mainstream acceptance of the lifestyles of health and sustainability markets.
Gaiam Inc. -- which targets people who value personal development, natural health and inspirational entertainment -- will purchase a minority interest in Lime TV, formerly Wisdom TV, according to representatives from both companies.
In turn, Revolution -- headed by America Online Inc. founder Steve Case -- will invest $20 million to purchase shares of Gaiam, which recently purchased multimedia company GoodTimes Entertainment.
“We are pleased to be able to make an investment in Gaiam, which, under [founder Jirka Rysavy’s] bold direction, has established a leadership position in this growing market,” Revolution chairman Case said in a prepared statement.
“We believe we’re nearing a tipping point as more and more people seek healthier, more balanced lives, and this alliance with Gaiam, alongside our existing investments in Miraval and Lime, position Revolution Living well to capitalize on the opportunity,” he added.