Rocketboom...and bust...and boom again.

There are two stories about the Rocketboom / Sony deal in the feedreader tonight. One is this from TechCrunch:

Rocketboom, the daily video blog, is turning over its distribution and ad sales to Sony Pictures Television in return for a seven-figure guarantee plus a share of revenues. Rocketboom will be distributed on Sony’s Crackle video site, as well as across other Sony platforms such as the PS3, PSP, and Bravia I-Link TVs.

Rocketboom founder Andrew Baron says he went with Sony because of Sony’s distribution strengths and the deal allows him to maintain control of the business. (Whereas selling the business to another media buyer, such as WallStrip did to CBS a year ago for $5 million, would have required him to give up his baby). The deal is structured as a distribution and advertising deal, and sounds like it could lead to a closer relationship or outright sale if things go well. But if they don’t, Rocketboom would regain complete control of distribution and ad sales after the contract expires.

And then there is the Valleywag story:

...it's the tale of Andrew Baron's Rocketboom, an online-video startup held up, inexplicably, as an example of the potential of the medium. Sony's seven-figure deal to distribute Rocketboom is seen by some as evidence that the industry is growing up. But what it really tells us is that having access to a credit line backed by Daddy is as sure a recipe for success online as it was in the old Hollywood. The exciting plot twist: Baron's father was not always happy about the arrangement. We've only learned how daddy-dependent Rocketboom was because Fred Baron loaned his son's company a total of $810,300.40, and then took it to court in order to force repayment last year. If you think it's strange for a father to go after his own son's company in court, then you don't know the elder Baron.

Apparently, Amanda Congdon (ex RB anchor) is suing to get her mitts on the former but intervened to mitigate the latter...it gets better and better! I can imagine a new Web TV startup using this as a plot for a Webcom.....

Brought to you in the interests of balanced reporting (and a love of salacious stuff.....) . Don't you love the New Olde Media