AwesomenessTV CEO Jordan Levin to exit following a transition period after the acquisition.
Videoink reported earlier this week that Viacom was in talks with AwesomenessTV to acquire the digital media company. Today Viacom has officially confirmed the speculation in a blog post announcing the forthcoming acquisition.
“Awesomeness has done an incredible job building their brand into a digital media powerhouse for today’s most sought-after and hard-to-reach youth audiences,” said Kelly Day, President of Viacom Digital Studios and former Chief Business Officer of Awesomeness. “The team brings strong digital expertise, deep connections with top talent and influencers, and a robust branded content studio and creative agency that will accelerate the growth and scale of Viacom Digital Studios.”
Sources say that Viacom is purchasing the company for well under its $650 million valuation after the company’s latest investment in 2016. It is believed that the conglomerate is purchasing the company for under $300 million. The Hollywood Reporter has the number pegged at $25 million according to its sources.
Awesomeness will be integrated into Viacom’s portfolio of brands within the Viacom Digital Studios division, which is led by Day who was the former chief business officer of Awesomeness. Jordan Levin, AwesomenessTV CEO will be leaving following a transition period after the acquisition.