BURBANK (dpa-AFX) - Walt Disney Co. (DIS) Monday said it agreed to buy Maker Studios, a major online video network on YouTube, for $500 million.
Maker Studios shareholders will get total consideration of $500 million, which could rise up to $950 million if Maker Studios meet certain performance targets.
Culver City, California-based Maker Studios produces video for YouTube, and has more than 5.5 billion monthly video views with 380 million subscribers.
Disney in the statement said with the deal it will gain advanced technology and business intelligence capability regarding consumers' discovery and interaction with short-form online videos, including Disney content.
The transaction, which is subject to regulatory clearances, is expected to close in Disney's third fiscal quarter.
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