RUMOR MILL: Has Guggenheim Digital Acquired a Stake in VEVO?

/ Aug 19, 2013

VEVO2

Online music video programmer VEVO is said to have been acquired by Guggenheim Digital Media. This comes from industry sources familiar with the matter and follows a mid-April report from The Wall Street Journal, which indicated that Guggenheim was interested in taking a controlling stake in the company. It’s unclear at the moment the exact nature of the acquisition — how big of a stake Guggenheim might have taken in VEVO.

A VEVO spokesperson declined to comment. Guggenheim Digital hasn’t responded to a request for comment. UPDATE: Via his Twitter account, VEVO CEO Rio Caraeff says these rumors are untrue.

Guggenheim Digital was formed by Guggenheim Partners this past January with the goal of expanding into new media and entertainment businesses. At the same time, the financial services firm appointed former Yahoo interim CEO Ross Levinsohn as Guggenheim Digital’s chief executive. Earlier this summer, the unit was one of seven suitors interested in buying Hulu, which had been put on the block by its ownership for the second time in three years. Ultimately, Hulu’s owners decided not to sell the video company, though Guggenheim had dropped out of the bidding process by that point.

It appears that didn’t deter Guggenheim Digital from looking into other premium online video businesses. I’m told that it’s common knowledge that over the past few months Guggenheim has also taken meetings with several YouTube MCNs with an eye toward potentially investing in those networks. The unit is armed with a “war chest” that the aforementioned WSJ report described as being in the “hundreds of millions” of dollars.

In June, VEVO ranked first among “YouTube partner channels” with nearly 47.5 million unique viewers during the month, according to comScore. The company, which offers content ranging from music videos to live concerts and original programming, is owned by Universal Music Group, Sony Music Entertainment, and Abu Dhabi Media Co. The company also counts Google as an investor.

Guggenheim’s media portfolio includes Billboard, Adweek, and The Hollywood Reporter. In April, Guggenheim Digital expanded the Billboard Group to include Billboard, Backstage, and Sonic Bids. It’s possible that VEVO slides into this division, which focuses on music content and industry and is led by John Amato. In fact, and this is pure speculation as it’s not clear what Guggenheim Digital and the Billboard Group might want to do with VEVO, it’s easy to foresee some video-based collaborations and partnerships between VEVO and Billboard, which also runs the Billboard Music Awards.

 

Tags: , , , , , , , , ,


lyor-cohen-youtube-music

Pioneering Hip Hop Exec Lyor Cohen Joins YouTube as Global Head...

 
alpha-legendary-digital

Legendary Digital Reveals Alpha Subscription Service Launch...

 
time-inc-jash

Time Inc. Teams with Digital Comedy Producers Jash for Branded Content

 
Amazon Logo

Amazon Greenlights Three Comedy Pilots as Series

 
Industry Tickets Selling Fast!
Click above to lock in your registration for VidCon 2015!
 
cartoon-network-app

How the Cartoon Network Combined the Best of VOD and Linear TV...

 
jukin-media-ethos

Jukin Media Goes Viral for Brands with Ethos Division Launch

 
Streamy Awards

Streamy Awards Trade In VH1 for YouTube, Again

 
zefr-alignment-report

Matching Ads to Videos Not So Simple, According to Zefr’s...

 
shomi

Plug Pulled on Canadian SVOD Service Shomi

 
Twitter

What’s Trending on the Twitter Sale

 
Machinima Logo

Machinima Teams with SiriusXM for Daily Esports Radio Show

 
Hearst

AwesomenessTV, Vice, Complex to Power New HearstLive...

 
dirty-30-hannah-hart-mamrie-hart-grace-helbig

VIDEO: ‘Dirty 30’ Confessions with Stars Hart,...

 
facebook-thumbs-down

Facebook Says It’s Sorry It Vastly Overestimated Video...

 
craig-piligian-pilgrim-media-group

Pilgrim Media Group CEO Craig Piligian (‘The...

 
youtube-heroes-for-change

Heroes or Rats?: YouTube Unveils New Program for Creators Who...

 
Vessel says it's doing well in its first month

Why Verizon is Pursuing Vessel, the...

 
jared-feldman-and-sam-hui-ph-d-at-the-2014-canvs-launch

How Canvs Media is Harvesting Emotional Insights on YouTube,...

 
marlon-wayans

Marlon Wayans Getting ‘Naked’ for Netflix with Regina Hall

 
huffpost-ryot-aol

HuffPost RYOT Launching Virtual Reality Comedy Series and News...

 
youtube-vote-irl

YouTube Launches #voteIRL Campaign Targeting Digital-First Generation

 
tyler-oakley-camp17

How Top YouTubers (incl. Tyler Oakley & Meghan Rienks)...

 
charlie-sheen-anger-management

Charlie Sheen to Star in Crackle Feature ‘Mad Families’

 
filmbuff_videoink_300x250

Gunpowder & Sky Buys Distributor FilmBuff As Vision for...

 
toy-freaks-youtube

Toy Freaks Top Viewed YouTube Channel in August According to...

 
jeffrey-tambor-transparent-amazon

Emmy Wrap-Up 2016: Jeffrey Tambor (‘Transparent’)...

 
Twitter

Twitter Scores 2.1 Million Viewers for Thursday Night Footall Kickoff

 
youtube-sad-face-error

Vloggers Not Unique Snowflakes: 90 Million Flag YouTube Videos...

 
Mode Media

‘Billion Dollar Startup’ Mode Media Shuts Down

 
raised-firsts-branded-tv

Who Is Winning The Marketing Revolution And Why?

 
shes-gotta-have-it

Netflix Orders ‘She’s Gotta Have It’ Series...

 
swedish-dicks-peter-stormare-keanue-reeves-viaplay

What Is ‘Swedish Dicks’ and Who Is Selling It?

 
seamlessly-she-monica-potter-aol-partner-studio-gmc-acadia

How GMC is Using the AOL Series ‘Seamlessly She’...

 
Netflix_new

Liberty Global to Put Netflix on Set-Top Boxes in 30 Countries

 
vincent-cacace-vertebrae

Getting to the Spine of VR’s Monetization Challenges with...

 
meredith_brandfront_videoink_300x250

Meredith Hosted Its Own “Front” Stacked with 20 New Series

 
complex-networks-hearst-verizon

Verizon and Hearst Move RatedRed.com and Seriously.TV Under...

 
Twitter

Twitter Launches Live Streaming Apps for Amazon Fire, Apple TV...

 
YouTube Community

YouTube Fights Back Against Social Media Rivals with Community Feature

 
Casual Hulu

Vimeo Opening Television Store with Lionsgate Content, Launching...