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Virgin Entertainment Exchanges $15 Million In-Store Promotion

Entrepreneur Richard Branson, owner of the Virgin Entertainment Group, has finalized a barter arrangement with Wavo Corporation, an industry leading digital media services provider, to create Virgin JamCast.

Branson's Virgin Entertainment Group will get a 25% equity stake in JamCast.com for its $15 million of in-store promotion at various Virgin mega-stores and Virgin's other online properties.

The Virgin Label, Known Worldwide, Was Built On Barter

With an estimated worth of $1.7 billion, according to London's Sunday Times, Branson has harnessed a barter strategy that's enabled him to launch a myriad of businesses with minimal investment.

He calls it "branded venture capital." Essentially, he agrees to manage a new venture and puts up the Virgin name—usually in exchange for a controlling interest—while his wealthy partners put up most of the cash.

This barter strategy has helped Branson, the 48-year-old flamboyant English showman, and Europe's best-known entrepreneur, build an empire of some 200 companies, and expand Virgin's brand name around the world.