Wireless Industry News » Verizon buys stake in AwesomenessTV as it continues to bet on media
The new service will be exclusive to Verizon's platforms initially, while AwesomenessTV will hold rights to sell the content in other markets.
Verizon continued its aggressive expansion into media with the announcement that it will buy a 24.5 percent stake in AwesomenessTV, a digital video company owned by DreamWorks Animation that targets teens and preteens. The deal values AwesomenessTV at $650 million.
Verizon said it will team with AwesomenessTV to create "a premium short-form mobile video service featuring leading talent in front of and behind the camera." The service will operate as an independent brand "and feature transactional content" as part of the carrier's Go90 offering. Verizon will fund the project. Read More