Revision3 has acquired DeFranco Creative, a portfolio of online video channels and ventures developed by popular video creator Philip DeFranco.
DeFranco's channels and shows have generated more than one billion video views since launching in 2006, averaging 50 million views monthly.
As part of the agreement, DeFranco will join Revision3's programming leadership team as senior VP of Phil DeFranco Networks and Merchandise.
The Philip DeFranco Show, launched in 2006, has more than 2.5 million subscribers. In 2007, DeFranco launched his personal lifestyle channel, The Vloggity, which has more than 700,000 subscribers today and last year, DeFranco debuted SourceFed, a new channel focused on breaking pop culture news.
Jim Louderback, CEO of Revision3, noted in a statement that "Phil knows better than anyone working the web today how to delight audiences, build passionate fanbases and launch new franchises. By bringing Phil and DeFranco Creative officially into the fold we are adding a true pioneer in online video, a magnetic personality, a real business focus and a top-notch creative team to Revision3."
The acquisition also includes a merchandise business.
The acquisition is the most recent example of deal-making in the online video sector and comes just over a year after Discovery Communications acquired Revision3 in May of 2012. Since then the operation has seen record audience and stream growth, the companies report, with Revision3's online audience increasing by 175% and video streams tripling.
During the deal, Discovery Communications and Revision3 were advised by Proskauer Rose LLP.
Michael Bienstock of Semaphore Tax and Business Solutions, Inc. was the exclusive business advisor to DeFranco Creative, with Hubert Smith Jr. of HTS Media Law, PC advising on all legal and contract
representation.
