Deals
Viacom in Talks to Acquire AwesomenessTV Company
- Youth-media brand is owned by Comcast, Verizon and Hearst
- Viacom seeking to recapture viewers who fled MTV, Nickelodeon
Viacom Inc. headquarters in New York, U.S., on Jan. 25.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Viacom Inc. is in talks to acquire youth-media company AwesomenessTV from Comcast Corp., Verizon Communications Inc. and Hearst Corp., according to two people familiar with the matter.
The parties haven’t reached a final deal, but the talks are in advanced stages and could conclude in just a couple weeks, said the people, who asked not to be identified because talks are ongoing. Viacom will pay less than half the $650 million valuation AwesomenessTV received back in 2016, a sign of the sagging market for online media companies.