How Old Media Is Bankrolling the Upstarts
THR unravels the ever-more tangled web of power players' investments in the outlets stealing their audiences as corporate congloms place bets on content's murky future.
This story first appeared in the April 22 issue of The Hollywood Reporter magazine. To receive the magazine, click here to subscribe.
Turner's March 31 investment into Mashable was just the latest in a string of investments from traditional media giants into new-media ventures. Over the last year, especially, digital upstarts have become increasingly entwined with the companies whose business models they are disrupting. It's a strategy that is proving to be a win-win for many of the companies involved. Fast-growing new-media businesses are hungry for cash as they invest more dollars in upping the quality of their content and make the jump into the expensive world of original video. And the media conglomerates are looking for a foothold with millennial and Gen Z audiences who are much more likely to check out Snapchat than a TV screen or news homepage.
The Hollywood Reporter has combed through securities filings and news reports to present a snapshot of the increasingly connected world of these (predominantly N.Y.-based) media deals.
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