Time Warner is in talks to acquire FullScreen, one of the most popular YouTube video networks currently in existence.
Bloomberg reports that Time Warner is joining Yahoo and Relativity Media in a bid to acquire the company, which operates a vast network of channels on YouTube. FullScreen reaches young audiences that tune in to over 40,000 YouTube contributors, including Shane Dawson, The Fine Brothers — responsible for "reaction" videos recording the general public's response to other videos — and Minecraft player and reviewer SSundee.
Citing a person with knowledge of the matter, the publication says that FullScreen, backed by Peter Chernin and Comcast Ventures and founded in 2011, is seeking a price close to what Disney paid for its acquisition of Maker Studios last month. Disney recently bought the firm, which accounts for over 380 million subscribers worldwide across more than 55,000 channels, for $500 million.
FullScreen is the latest online video network to arouse the interest of large media firms. Walt Disney, DreamWorks, and Warner Bros. have also made strides in snagging large online audiences through similar deals recently.
In April, FullScreen said it accounts for 380 million subscribers and over three billion monthly video views. However, the firm isn't very profitable, as it shares profit with the YouTube channels within the network. Last year, FullScreen generated between $50 and $70 million in revenue.