Magnussen started Hollywood-based Ripe Digital Entertainment in 2003 and closed it in 2009, after selling Zentropy to Interpublic Group for $50 million in 1999, according to the Wall Street Journal.
In 2002, Magnussen founded Ripe Digital Entertainment, a media company that developed video-on-demand television networks for cable, the Internet, and wireless devices.
In October 2006, Time Warner, Hearst-Argyle Television, and other venture-capital firms invested $32 million in Ripe Digital Entertainment to fund additional networks.
[1] Pioneered by Magnussen and partners, Ripe Digital Entertainment's "immersive advertising" model allowed viewers to watch programs and ads simultaneously as commercial messages were embedded in each show.
[2] Big-name sponsors that advertised on Ripe Digital Entertainment networks include Chrysler's Dodge, Cingular, and Procter & Gamble's Old Spice.