Viacom said it would acquire AwesomenessTV, a media company targeting the generation-Z, for a reported $25 million.
The digital media site, launched in 2012, fills a programming void for corporate parent Viacom, fitting in between Nickelodeons youthful demographic and the more mature MTV generation. Awesomeness has more than 158 million subscribers.
“Awesomeness has done an incredible job building their brand into a digital media powerhouse for todays most sought-after and hard-to-reach young audiences,” said Viacom Digital Studios President Kelly Day, who previously served as chief business officer at Awesomeness.
It also brings Awesomeness under the same corporate umbrella with one of its co-founders, Brian Robbins, who currently serves as president of Paramount Players at Viacom.
CEO Jordan Levin will leave after a transition, following the acquisition. He joined Awesomeness about a year ago from the National Football League, where he served for two years as chief content officer.
Reports leaked earlier this week that Viacom was in advanced talks to with Comcast/NBC Universal to acquire AwesomenessTV for a fraction of the $650 million valuation it commanded in 2016.
Like many digital platforms being squeezed by online advertising behemoths Google and Facebook, Awesomeness has seen its valuation dwindle. Its three corporate owners all have other priorities, opening the door for Viacom to roll up the entire business, satisfying the wish of Awesomeness to have a single owner.
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