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1 item from 2014

Viacom Picks Up Stake In Defy Media

9 June 2014 10:47 AM, PDT | Deadline TV | See recent Deadline TV news »

Add Viacom to the companies cozying up to online video networks. The entertainment company swapped its gaming focused digital properties — casual game developers Addicting Games and Shockwave, and video unit GameTrailers  – for an unspecified minority stake in Defy Media. It picks up a seat on Defy’s 10-member board which is chaired by former Nickelodeon and Oxygen Media chief Gerry Laybourne and includes reps from Lionsgate, ZelnickMedia and Abs Capital.  (The network company, popular on YouTube, was formed last year when Alloy Digital and Break Media merged.) In addition to the transaction, Viacom and Defy have agreed to syndicate content and develop and distribute entertainment, although they don’t provide details. Viacom picked up Addicting Games and Shockwave in 2006 as part of its $200M acquisition of Atom Films, and bought GameTrailers in 2005. But Viacom “was not investing materially in them,” Defy President Keith Richman tells me. That should change with the new ownership. »

- DAVID LIEBERMAN, Financial Editor

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