Rumor Mill: My Damn Channel in Talks to Get Acquired
At the end of 2012, industry executives hailed that 2013 would be the the year of consolidation. And looking back on it now, it certainly has been! So far we’ve seen:
- April: AwesomenessTV gets acquired by Dreamworks for $33 million with the potential value of the deal rising to $117 million
- May: StyleHaul raises $6 million from European broadcast conglomerate RTL Group, three months after receiving $6 million from Bertelsmann’s Digital Media Investment arm — Bertelsmann owns a majority stake in RTL Group
- June: RTL Group strikes again as the Vancouver-based BroadbandTV raises $36 million from the broadcaster
- June: Fullscreen reportedly raises $30 million from a group of traditional media-based companies that include The Chernin Group, WPP Digital, and Comcast Ventures
- July: Base79 receives a “multi-million” dollar investment from Evolution Media Capital, an investment bank funded in part by CAA
- September: Blip is acquired by Maker Studios for a rumored $2-3 million with 100% equity
- October: Magnify Networks acquires Waywire to become a channel guide for the web.
And now VideoInk is hearing rumors that My Damn Channel, an online video pioneer headed by Rob Barnett and Warren Chao, is close to finding an exit of its own — the company has held talks about a possible acquisition from a major media company and television network. We’re also told any agreement may be slowed by new interest of a second suitor from traditional media, which just allocated over $40 million to boost its digital initiatives.
This is an important move for My Damn Channel, which we’re told is on the cusp of losing its only major talent/money-maker — Grace Helbig, of the My Damn Channel-commissioned show and YouTube channel: DailyGrace. (More on this over here.)
Other flagship shows for the studio include original series like “Wainy Days,” “Daddy Knows Best,” “My Damn Channel Live,” and videos created by comedians like Mark Malkoff and Harry Shearer.
Earlier this year, My Damn Channel announced it was partnering with Blip to produce and distribute a new slate of original programming. Blip has since been acquired, for a rumored $2-3 million and equity, low considering the company took in over $24.3 million in venture capital.
It now appears that My Damn Channel, which was founded in 2007 and managed to sustain beyond the first digital “boom and fade,” will look to do the same.
My Damn Channel did not respond to requests for comment.
Jocelyn Johnson and Sahil Patel contributed to this piece.Tags: Acquisitions, Blip, BroadbandTV, CAA, Daily Grace, fullscreen, maker studios, My Damn Channel, RTL Group, StyleHaul, youtube