ZeniMax Media announced the closing of a $300 million investment by Providence Equity Partners Inc. for convertible preferred stock of the company. The proceeds of the investment will be used to fund future growth, increase game development and publishing, facilitate acquisitions, and finance massively multiplayer online games (MMOGs). ZeniMax Media divisions include Bethesda Softworks, Vir2l Studios, ZeniMax Europe Ltd., and ZeniMax Online Studios.