Time Warner said to hold talks to buy Fullscreen Network - Bloomberg

Reuters News
Posted: May 11, 2014 11:35 AM

(Reuters) - Time Warner Inc has held talks to acquire Fullscreen Inc, one of the popular YouTube video networks, a person with knowledge of the matter said, according to an article in Bloomberg on Saturday.

Officials at Time Warner were not immediately available for comment Sunday morning.

Time Warner joins Yahoo! Inc and Relativity Media LLC in looking at Fullscreen, which operates a network of channels on Google Inc’s YouTube, according to three people, who all asked not to be identified because the deliberations are private, the article said.

Fullscreen, backed by Peter Chernin and Comcast Ventures, is the latest online video network to arouse the interest of big media, Bloomberg said.

In an April release, Fullscreen said it has 380 million subscribers and more than 3 billion monthly video views. The company generated $50 million to $70 million in revenue last year, which it shares with the YouTube channels in its network, and isn’t profitable, the person said, according to the article.

(Reporting by Scott DiSavino; Editing by Rosalind Russell)