Maker Studios to be Purchased by DisneyCategory: General News
Posted: March 25, 2014 05:46AM
Maker Studios, which was founded in 2009 and focuses on online videos featured on YouTube, is set to be purchased by The Walt Disney Company for a minimum of $500 million. Maker Studios is able to deliver online videos to more than 380 million subscribers located across the world, and successfully receives around 5.5 million video views every month. Disney stated that depending on the milestones hit by Maker Studios before the purchase is completed, the price for the YouTube network could be as high as $950 million. Bob Iger, the CEO of Disney, noted that because short-form online video is growing so quickly, the company is excited to enter the dynamic industry.
The purchase deal is expected to be completed during the third fiscal quarter for Disney.