RealTime IT News Receives $48 Million from AOL, Intel, Microsoft Tuesday secured a third round of financing totaling $48 million, led by Wasserstein Adelson Ventures.

This financing round is composed of industry companies and venture capitalists, including America Online, CBS, Intel, Microsoft, and NBC, who are participating in the advancement of the streaming media industry. Funds will be used to accelerate the company's digital media applications strategy and U.S. and international expansion.

"Our investment in and relationship with demonstrates our continuing efforts to bring digital media into the mainstream," said Dave Fester, director of marketing, Streaming Media Division, Microsoft. "'s ongoing support for Windows Media in their products and services represents both companies' shared vision for enabling high quality audio and video content." recently announced the acquisition of, a multimedia applications developer and the launch of its Consulting Services Group (CSG).'s e-Show Engine is a digital media application that makes it simple to create, host and manage media on any Web site.

CSG delivers cross-platform digital media services and expertise to support the companies' digital media services and vertical application implementations. Both of these initiatives will allow to provide vertically targeted applications to Web sites and companies who want to leverage digital media but do not have the expertise, time and resources to develop their own solutions.