Summary:

Operator of KaZaa Receives Funding: Brilliant Digital Entertainment (AMEX: BDE), the operator of Altnet, the controversial file-trading netw…

Operator of KaZaa Receives Funding: Brilliant Digital Entertainment (AMEX: BDE), the operator of Altnet, the controversial file-trading network that delivers copy-protected content to users and runs through piggybacking on KaZaa, has raised $1,070,000 in a private placement of its equity securities.

In May, Brilliant Digital launched the Altnet service by seeding the Kazaa file-swapping network with advertising links and paid content from a handful of partners, including video game publisher Infogrames and EMI-distributed record label 2KSounds.

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