Blue Ant Media Boosts Streaming with $12M MagellanTV Acquisition
Blue Ant Media has bolstered its streaming presence with the acquisition of U.S.-based MagellanTV for $12 million. The deal brings a wealth of premium factual content to Blue Ant's portfolio and expands its reach internationally.
MagellanTV, a subscription video-on-demand service, specialises in history, nature, science, space, and true crime genres. It currently operates in 13 countries, thanks to distribution partnerships with major platforms like Roku, Amazon, Apple, and Samsung. The service complements Blue Ant Media's existing portfolio of SVOD, AVOD, and FAST channels.
The purchase price for MagellanTV is $12 million, with $6 million paid upfront and the remaining $6 million spread over two years. This acquisition increases Blue Ant's scale, adds audiences, and enhances its distribution capabilities, aligning with its business growth strategy. Blue Ant Media is primarily composed of a broadcast and streaming channel business, Blue Ant Studios, and a Canadian cable TV channel division.
MagellanTV co-founder Greg Diefenbach will join Blue Ant as executive vp of streaming, overseeing direct-to-consumer and SVOD businesses. This acquisition, following Blue Ant Media's return to the Toronto Stock Exchange, signals a significant expansion in its streaming offerings.
