Time Warner hops on the virtual world bandwagon

-SDH We were expecting something a little more jolty if you will, but this will have to do for now. The first deal announced under The Bewkes Administration, has Time Warner dumping an undisclosed amount of cash in Gaia Online, a Web-based social community aimed at teenagers. The company had earlier workings with Gaia via it's Warner Bros unit. Now TimeWarner will continue the relationship by allowing the site to offer up full-length older movies for on-demand viewing for $1.99. Ground Breaking isn't it? "Studios are seeing their teens leaving traditional film and television to go online and they need to supply that audience with an equivalent form or new form of entertainment," Gaia CEO Craig Sherman said. TIME'S WORLD VIEW [NYP]