Thursday, December 11, 2014
Hearst Takes Stake In Awesomeness.TV
Hearst Corporation and DreamWorks Animation said late Thursday that Hearst has taken a 25% stake in Awesomeness.TV, for $81.25M, in a deal that values Awesomeness.TV at around $325M. DreamWorks--had acquired Awesomeness.TV in May of 2013 for what was then worth up to $117M. Awesomess TV's Brian Robbins will continue to lead the company. Awesomeness.TV continues to be one of the fastest and most capital efficient exits in Southern California, with the company originally raising only $3.5M in August of 2012, and being acquired less than a year later by DreamWorks.