Online Video Content Creator Alloy's Digital Unit Acquires Generate
NEW YORK - Online video content creator Alloy Digital, which focuses on the 12-34 year-old demo, has acquired production and talent management firm Generate, the company said Thursday.
The partners said the deal, announced by Alloy Inc. CEO Matt Diamond and Generate CEO Jordan Levin, creates "the first of its kind, multi-platform, next generation media company."
Financial terms weren't disclosed.
Generate's senior management will take leadership positions at the consolidated company. Generate head Jordan Levin, who used to be CEO of The WB Network, will join four of Generate’s early partners at Alloy - president Peter Aronson, head of branded content Jared Hoffman and talent managers Dave Rath and Kara Welker, all of whom will continue to serve as producers on select projects.
Generate, launched in 2006, focused on bringing together advertising, technology and entertainment companies. Alloy Digital says it controls the largest network of young adult-targeted Web sites, reaching more than 43 percent of 12-34-year-old Web users. Alloy's entertainment arm produces such hit TV shows as The Vampire Diaries and Gossip Girl.
Strauss Zelnick's ZelnickMedia led an investor group that acquired Alloy Digital parent Alloy Inc. in 2010. Alloy Digital also recently acquired Smosh, the third-most subscribed channel on YouTube.
“The addition of Generate to Alloy Digital firmly places us in a unique position offering expanded and vertically integrated capabilities that will create significant value for our advertisers and consumers, as well as the creative community and potential partners," said Diamond. He added that the combined firm will focus on "cost-effective development and production, talent management, distribution, ad sales, social media and promotion all under one roof."
Said Levin: “Combining forces with Alloy Digital is the next logical step for both companies. We have every confidence that collectively we will continue to build a powerful, platform agnostic, digital-centric engine designed to meet the creative and economic needs of consumers, brands and talent while, at the same time, driving significant growth and positive financial performance.”
Added Alloy chairperson Geraldine Laybourne: “The combination of Alloy Digital’s unmatched reach across its uniquely targeted platform, and both Generate’s talent management business and sophisticated production expertise, creates an infrastructure that represents the logical evolution of our industry and is the ideal orientation for a forward-looking media company.”