TF1 Group and Mediaset have injected cash into Studio71 in a deal that valued the online media company, a ProsiebenSat.1 spinout, at about $425m.
Studio71, a US-based online media subsidiary of broadcaster ProsiebenSat.1, received €53m ($56m) in funding on Thursday from broadcasting companies TF1 Group and Mediaset.
As part of the transaction, Studio71 will receive a strategic minority stake in Finder Studios, a multi-channel network owned by TF1.
The deal valued Studio71 at approximately $425m and came a day after the company announced a strategic partnership with social commerce tools developer MagicLinks. The agreement will enable Studio71’s users to easily monetise their content.
Studio71…
