Dec 11 DreamWorks Animation SKG Inc said
Hearst Corp has bought a 25 percent stake in its YouTube teen
network, Awesomeness TV, for $81.25 million.
Hearst Corp is a publisher of newspapers such as the San
Francisco Chronicle and Houston Chronicle and Hearst magazines
and also operates television channels.
Under the deal, Awesomeness TV, which has a subscriber base
of over 114 million, will get immediate access to Hearst's
subscription video on demand technology to accelerate its
ability to offer content directly to consumers across various
platforms, DreamWorks said a statement.
The two companies will support Awesomeness TV's efforts to
enter into new content channels and broaden its audience, the
Dreamworks, last year, bought Awesomeness TV, whose videos
offer everything from beauty tips to life advice.
(Reporting by Rohit T. K. in Bengaluru; editing by Andrew Hay)