Verizon acquires minority stake in AwesomenessTV, preps video service

Awesome. Verizon has taken 24.5% equity stake in the teen- and pre-teen-oriented media company AwesomenessTV. DreamWorks Animation, AwesomenessTV’s majority shareholder, will retain a roughly 51% stake, while Hearst will retain a 24.5% stake. As part of the deal, AwesomenessTV and Verizon plan to launch a new mobile video service featuring premium transactional content. It will launch as part of Verizon’s Go90 mobile streaming service. For AwesomenessTV, it’s a logical next step: Its young target audience consumes mountains of mobile video. And since the launch of Go90 last year, Verizon has proven itself an able and aggressive navigator of the mobile video space.

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