December 11, 2014 / 11:46 PM / 3 years ago

Hearst Corp buys 25 pct stake in Dreamworks' Awesomeness TV

1 Min Read

Dec 11 (Reuters) - 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 company said.

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)

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