ROK snaps up controlling stake in Fun Little Movies

United Kingdom-based ROK Entertainment Group said it has acquired a controlling stake in Fun Little Movies, a Los Angeles company that focuses on original video content for mobile.
ROK, a technology, application and entertainment-development company formed in 2003, obtained a 51% stake in FLM through a combination of shares in the company and cash to be paid in monthly installments through September 2009. Financial terms of the deal were not disclosed.
Under the agreement, ROK and FLM said they will jointly offer made-for-mobile content to wireless network operators around the world. FLM specializes in mobile-oriented, ad-supported comedies.
“ROK’s management team gets it. They see the same potential for the mobile space that we do,” said Frank Chindamo, president and CEO of FLM. Chindamo founded FLM in 2004 and is an adjunct professor at the University of Southern California who teaches a class on screenwriting and producing for mobile and the Internet.
According to FLM, the company has distribution deals with several handset makers and U.S. operators AT&T Mobility, Verizon Wireless and Sprint Nextel Corp. ROK will become the company’s primary distributor worldwide.
ROK has been busy with acquisitions lately, since raising about $7 million from European investors prior to a reverse initial public offering. The company acquired BluBox Software in June and as of September had also considered acquiring yet-to-launch mobile virtual network operator Xero Mobile.