After being acquired by Viacom for a less than awesome price, AwesomenessTV has been hit with another setback.
[UPDATE] Viacom has laid off about 98 people (roughly half of the staff) at AwesomnessTV
Last month, VideoInk broke the news that Viacom would be acquiring AwesomenessTV for much less than the company's most recent valuation. The company, which had frozen production, was on the verge of shutting down and was considered a “distressed asset” by interested buyers at the time -- namely Viacom. Now, VideoInk has learned that the company has reduced AwesomenessTV's headcount as part of the transition.
Less than a month after acquiring AwesomenessTV in a deal valued at under $30 million, Viacom is laying off more than 20 staffer...
Oops! This is a Members Only post! Become a member to access!
Join WrapPRO for Exclusive Content, Full Video Access, Premium Events, and More!
For Only $1/Day Members Access:
- 5 exclusive members-only stories a week
- Digital Video industry analysis and deep-dive features
- Daily WrapPRO newsletter covering the latest digital video industry news
- VIP seating for TheWrap’s Screening Series with stars and filmmakers
- Access to “chill spots” at select industry events Sundance, TIFF, Newfronts and more
- Access to exclusive invite-only events (TheGrill)
- DataBank showcasing key stats and streaming video trends in the OTT market
- In-depth entertainment industry research and whitepapers