Los Angeles - I3media, a new company in Spain that will focus on new media research and development, has received about $46.4 million in initial backing from telcos Telefonica and Alcatel-Lucent, and production house Mediapro, Variety.com reported.

Spain's Ministry of Industry will also provide half the funding for i3media; the company is a pilot project within Cenit, part of the Ministry's Ingenio 2010 research and development program.

The company will explore opportunities in digital cinema, and Web interfaces for television, Variety reports.

Related Links: 
http://tinyurl.com/27luau (Variety)

http://www.mediapro.es

http://www.telefonica.com/home_eng.shtml