LiveUniverse Buys Revver

LiveUniverse has bought Revver Inc., a Los Angeles-based online video distribution company. The news was first reported by NewTeeVee, which puts the price at just under $5 million. That's far less than the $15 million Revver raised in VC funding, but more than the $300,000 to $500,000 that the company was being offered up for.

VC backers include Draper Fisher Jurvetson, Bessemer Venture Partners, Draper Richards and William Randolph Hearst III.