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Verizon buys 24.5% stake in AwesomenessTV

2016-04-06 15:40:00| Telecompaper Headlines

(Telecompaper) Verizon is expanding content available for its mobile TV service with the acquisition of a 24.5 percent stake in AwesomenessTV. Dreamworks Animation remains majority shareholder with 51 percent of AwesomenessTV, and Heart holds the remaining 24.5 percent. The Verizon investment values the media company at USD 650 million. In addition to its equity investment, Verizon will enter into an agreement with AwesomenessTV to create a premium short-form mobile video service. The new service will launch as part of Verizon's go90 mobile video service. 

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Category:Telecommunications

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