Friday, May 3, 2013

DreamWorks Animation Acquiring Teen-Centric YouTube Network

http://www.dailyfinance.com/2013/05/01/dreamworks-animation-acquires-teen-centric-youtube/

DreamWorks Animation  is in the process of acquiring AwesomenessTV. DreamWorks will pay an up-front consideration of close to $33 million in cash for the digital media company. AwesomenessTV currently has more than 14 million subscribers and 800 million total video views. Executives for DreamWorks believe the acquisition could give the animation company a stronger hold in the industries of both social media and digital content, while still allowing AwesomenessTV CEO Brian Robbins to manage the company on his terms.The merger transaction is expected to close this month.

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