FremantleMedia Takes Majority Stake in MCN Group Divimove
The Berlin-based company claims to be Europe's leading multi-channel network, with 80 million subscribers.
FremantleMedia continues to expand in the online space, boosting its stake in online multi-channel network (MCN) Divimove to take majority control of the Berlin-based group.
Fremantle, the production group behind television formats such as Got Talent and X Factor, first bought into Divimove in late 2013. The digital group claims to be Europe's leading MCN, with 80 million subscribers across the continent and 900 million views per month on its 1,700 partner channels.
For old media giant Fremantle, Divimove is a platform to discover and promote new talent. The two companies last year jointly launched online talent program Shootrs in Germany and the Netherlands. The program, which targets promising YouTube talents, is set to continuing rolling out across the rest of Europe via Divimore this year.
FremantleMedia's parent company, Germany broadcast giant RTL Group, has been aggressively expanding into digital media businesses, acquiring Canada's BroadbandTV, the world's third-largest MCN, as well as fashion-focused MCN StyleHaul and digital video ad firm SpotXchange.