Privately held video game maker Zenimax Media has received a big $300 million investment from Providence Equity Partners through a convertible stock offering (via Gamasutra). Founded in 1999, the company will use the funds to increase game development, hunt for acquisitions and finance the creation of multi-player online games. The company already makes games for PCs and the major gaming consoles; among its titles is Oblivion, a product of its Bethesda Softworks unit. In August, it announced the creation of Zenimax Online Studios, a devision specifically focused on MMOGs. Co-founded by prominent DC lawyer Robert A. Altman, Zenimax sports a high profile roster of directors and outside advisors including Les Moonves, Jerry Bruckheimer, baseball player Cal Ripken, Senator George Mitchell and former DNC chairman Terry McAuliffe.  (Release)