European media company ProSiebenSat.1 is working to build a new multi-channel network through the merger of Studio71 and Collective Digital Studio. The new MCN will be called Collective Studio71 (CS71), and ProSiebenSat.1 will invest $83 million into the project at a valuation of $240 million Christof Wahl (Chair), Sebastian Weil and Ronald Horstman (ProSiebenSat.1), as well as CDS founders Michael Green and Reza Izad will jointly manage CS71. “Through our existing ProSiebenSat.1 partnership, we have been able to greatly increase monetization for our creators in Germany,” said Michael Green, Founder and Chairman of CDS. “The combination of our two MCNs will enable us…to establish the first truly global MCN. There will also be a strong focus on bringing in broadcast partners worldwide.” CDS is known for original web series Epic Meal Time, Video Game High School and Rhett + Link’s Good Mythical Morning. Studio71 created digital series Let’s Play Together, Last Man Standing and The Mansion.
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