Comcast to Acquire Video Ad Company FreeWheel
Online video ad company FreeWheel, which counts some of the biggest TV companies as clients, will be acquired by the biggest. According to multiple reports, Comcast, the largest cable operator in the country, is close to buying FreeWheel.
TechCrunch reports that the deal would be in the neighborhood of $320 million, though deal-terms haven’t been finalized as of yet.
FreeWheel has raised more than $35 million to date from investors that include Battery Ventures, Foundation Capital, and Turner Broadcasting. The company’s clients include AOL, Crackle, ESPN, Fox, NBCUniversal (which is also owned by Comcast), Turner, and VEVO.
The company also recently inked a partnership with Amazon to power the e-retailer’s emerging video ad business.
Reports and sources indicate that FreeWheel will function as an independent unit within the Comcast portfolio, which includes everything from the aforementioned NBCUniversal to the soon-to-be-acquired Time Warner Cable.Tags: Acquisitions, Comcast, FreeWheel, NBCUniversal, Turner Broadcasting, Video Advertising