by Christopher Freeburn | May 1, 2013 12:17 pm
Producers of popular videos on Google‘s (NASDAQ:GOOG) YouTube can generate millions of viewers for viral video clips.
Now, one YouTube video maker is about to be purchased by a media giant. AwesomenessTV, which runs a popular channel on the video website, is in negotiations to be acquired by DreamWorks Animation (NASDAQ:DWA), sources tell AllThingsD.
Investors liked the news, sending DreamWorks shares surging more than 5% in Wednesday midday trading.
AwesomenessTV, which makes videos popular with teenagers and younger viewers, has already attracted the interest of investors, raising about $3.5 million in financing from private equity firms.
The YouTube network was founded by Brian Robbins, a former child actor who starred in the 1980’s sitcom Head of the Class. It current has about 500,000 subscribers on YouTube and produced 80 million video viewings last month.
In February, DreamWorks announced that it was partnering with Netflix (NASDAQ:NFLX) to develop original children’s programming for the video streaming and DVD rental website.
Source URL: http://investorplace.com/2013/05/dreamworks-close-to-buying-youtube-channel-for-teens/
Short URL: http://invstplc.com/1nx7W7J
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.