Over a month ago we reported on rumors that MMO developer Turbine was about to receive a $40 million infusion of funding from various venture capital sources. This morning the Lord of the Rings Online and Dungeons and Dragons Online developer made that rumor official with a press release announcing the new financial deal.

One of the more interesting sources of Turbine's new capital is Time Warner who have been moving more and more into the games space from various fronts, including Warner Bros. Interactive and Gametap (Time Warner is also the parent company of AOL which owns Big Download). The new Turbine press release was short on details on what the company plans to do with the money, saying it " . . . . will be used to further accelerate Turbine's growth as a global leader in online entertainment."