SoftBank to acquire DramaFever

The Tokyo-headquartered media and comms giant also recently invested in Legendary Entertainment.
October 14, 2014

SoftBank is acquiring streaming service DramaFever, the companies announced Tuesday.

DramaFever, which offers content on both a free ad-supported and $9.99/month subscription basis, has deals with more than 70 major broadcasters and studios throughout Asia, Europe and the Americas. The company has negotiated both same- or next-day distribution deals, and dipped its toe into original programming, including a Korean co-pro announced last week. DramaFever also has a syndication partnership with Hulu.

Terms of the SoftBank deal were not disclosed.

“In five short years since going live, DramaFever has built an impressive internet-based streaming video business operating at scale,” Nikesh Arora, vice chairman of SoftBank Corp. and CEO of SoftBank Internet & Media (also known as SIMI, a division that oversees the company’s internet, telecom and media investments), said in a statement. “(Co-founders) Seung Bak and Suk Park have a proven business model in a dynamic industry, and we look forward to helping them bring their highly popular video content to an even larger global audience.”

Morrison & Foerster acted as legal advisor to the SoftBank Group. The Raine Group acted as financial advisor and Gunderson Dettmer acted as legal advisor to DramaFever.

SoftBank, an international Tokyo-headquartered media and communications giant, also recently invested $250M into Legendary Entertainment with the intention to exploit IP rights via both traditional and digital platforms.

About The Author
Melita Kuburas is the editor of StreamDaily. You can reach her directly at press[at]streamdaily.tv or on Twitter @melitakuburas

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