Financial terms of the deal were not disclosed. Under the terms of the acquisition, DeFranco will join Revision3 as senior VP of Phil DeFranco Networks and Merchandise. DeFranco, whose videos have generated more than 1 billion views on YouTube since 2006, produces popular shows include “The Philip DeFranco Show,” “SourceFed” and “The Vloggity.” DeFranco Creative has 25 employees, including talent.
“We’ve had a blast working with Phil and his team as an affiliate, and we can’t wait to take the relationship way beyond 11,” Revision3 topper Jim Louderback said in announcing the pact. “Phil knows better than anyone working the web today how to delight audiences, build passionate fanbases and launch new franchises.”
DeFranco’s channels now average 50 million views monthly and have nearly 2.6 million subscribers. He has already worked with Discovery, serving as on-air host for Discovery Channel’s “Shark Week Chompdown” in 2012. Last year, DeFranco inked a deal with Revision3, which has provided ad-sales and production support to his firm.
Other special events by DeFranco have included live coverage of the most recent Democratic and Republican National Conventions and the 2012 U.S. presidential race.
“Working with Jim and Revision3 the past few years has been as immensely fun as it has been profitable,” DeFranco commented. “This new relationship will provide the ability to do all of that better and build a network focused on quality and authenticity.”
Discovery acquired Revision3 in May 2012. Earlier this month Revision3 debuted the TestTube network, aimed as young males, stocked with new and existing online shows.
For the DeFranco transaction, Discovery and Revision3 were advised by Proskauer Rose LLP. Michael Bienstock of Semaphore Tax and Business Solutions was the exclusive business advisor to DeFranco Creative, with Hubert Smith Jr. of HTS Media Law advising on all legal and contract representation.