And the M&A activity continues. This time, online video streaming service DramaFever is said to be in talks to sell, with a valuation somewhere between $120 million and $140 million. According to one source, DramaFever did over $20M in revenues last year.
Suitors said to be interested in the company include AMC Networks and European broadcast group RTL Group, according to our sources. Earlier, Recode reported that DramaFever has also held conversations with Barry Diller’s IAC, which owns Vimeo among other web and video properties. That report indicates that price for the streaming service could be anywhere from $80 million to $140 million.
Both AMC and RTL Group have existing relationships with DramaFever. RTL Group is owned by Bertelsmann, which is an investor in DramaFever through its Bertelsmann Digital Media Investments arm. AMC is also an investor. In total, DramaFever has raised more than $11 million from a group of investors that include AMC, BDMI, and MK Capital.
The relationship with AMC doesn’t end with its investment, either. DramaFever has been reportedly working on a project for the cable network that would take DramaFever’s existing infrastructure — AVOD meets SVOD, global streaming, etc. — and replicate it across multiple streaming sites.
It’s unclear exactly how close DramaFever is to a completed deal. Recode’s report suggests that the site has been on the block for quite some time now. But if completed, it would be the latest acquisition in a year of consolidations and investments between old and new media.
To date in 2014: Maker Studios sold to Disney and Fullscreen went to Otter Media, which is backed by The Chernin Group and AT&T; Collective Digital Studio sold a minority stake to ProSiebenSat.1; Tastemade raised $25 million from Scripps Networks Interactive and others; and StyleHaul is reportedly up for sale.
A rep for DramaFever declined to comment on this story.
*Jocelyn Johnson has previously worked with DramaFever. Sahil Patel contributed to this story.