Los Angeles - Disney is in the process of acquiring fan fiction online community Fanlib, as well as online video start-up DigiSynd, PaidContent reported.

Los Angeles-based Fanlib has raised about $3 million in funding for its site, where users can post their own storylines featuring characters from well-known stories.

The company has secured partnerships with HarperCollins, Simon & Schuster, Penguin Books, Showtime and Starz.

DigiSynd is a stealth-mode company started by Oliver Luckett, co-founder of video site Revver, which is developing a service that media companies can use to distribute and monetize their content.

Neither Disney nor the two potential acquisitions would comment on the story for PaidContent.

Related Links:
http://snipurl.com/2dq44 (PaidContent)

http://www.fanlib.com

http://www.digisynd.com