Disney to buy top YouTube network Maker Studios for $500mn

Tuesday, 25 March 2014 - 5:37pm IST | Agency: ANI

Disney is reportedly set to purchase top YouTube network, Maker Studios, for a whopping 500 million dollars.

The acquisition is expected to provide Disney with additional technology and business intelligence to help it expand into the growing short-form video space.

According to Mashable, Maker has established itself as a top online-video network, with more than 55,000 channels, 380 million subscribers and 5.5 billion monthly views.

Executive chairman and CEO of Maker, Ynon Kreiz, said that Disney is synonymous with the best entertainment and is the ideal partner for them, strengthening their position as the leading player in online video.

If Maker hits certain performance targets, Disney would top the deal with an additional 450 million dollars.

The deal is expected to close in Disney's third fiscal quarter, pending regulatory clearance, the report added.

The report said that YouTube networks are becoming hot commodities in Hollywood, with the recent acquisition being in May, when DreamWorks Animation acquired teen-skewing YouTube multichannel network Awesomeness TV for 33 million dollars.




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