Disney acquires Maker Studios for $500 million

Walt-Disney-Co

The Walt Disney Company has agreed to acquire Maker Studios for $500 million. The Maker Studios is the leading network of online video content on YouTube, which means that now Disney will be a major player in the online video content distribution. If after the acquisition should Maker meets certain performance milestones, the deal amount could rise up to $950 million. Maker, founded in 2009, owes an awesome 55,000 channels, 380 million subscribers and 5.5 billion views per month. The transaction is expected to close in Disney’s third fiscal quarter.

“Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.

“Disney is synonymous with the best entertainment and is the ideal partner for us, strengthening our position as the leading player in online video,” said Ynon Kreiz, Executive Chairman and CEO of Maker Studios.

SOURCE: ReutersRecodeMarketWatch

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About Seena Ajith 278 Articles
Hi guys, I am a technology blog writer, started of my career as a coder. I like following all current trends in technology, but specifically my interest is to cover everything about mobile phones. When not in front of computer, I will be either cooking or playing with my kids.