Whistle, a five-year old entertainment and sports media company, has acquired Vertical Networks, a mobile-first content studio founded by Elisabeth Murdoch and backed by Snapchat parent Snap Inc.
Vertical Networks, founded in 2015, is known for the popular Snapchat series Phone Swap as well as Brother, a male-skewing lifestyle brand with more than 20 million subscribers.
The deal follows Whistle’s pickup of New Form earlier this year, a deal that gave Discovery, ITV, Ron Howard and Brian Grazer equity positions in Whistle. In a press release announcing the Vertical acquisition, Whistle said it is on track to double its revenue in 2019. The company has raised more than $100 million from investors such as Jeffrey Katzenberg’s WndrCo, NBC Sports, Sky Sports, Liberty Global and Tegna since its 2014 launch.
Terms of the transaction were not disclosed. Under the deal, current Vertical Networks shareholders, including affiliates of Elisabeth Murdoch and Snap, are becoming shareholders in Whistle.
Vertical Networks, founded in 2015, is known for the popular Snapchat series Phone Swap as well as Brother, a male-skewing lifestyle brand with more than 20 million subscribers.
The deal follows Whistle’s pickup of New Form earlier this year, a deal that gave Discovery, ITV, Ron Howard and Brian Grazer equity positions in Whistle. In a press release announcing the Vertical acquisition, Whistle said it is on track to double its revenue in 2019. The company has raised more than $100 million from investors such as Jeffrey Katzenberg’s WndrCo, NBC Sports, Sky Sports, Liberty Global and Tegna since its 2014 launch.
Terms of the transaction were not disclosed. Under the deal, current Vertical Networks shareholders, including affiliates of Elisabeth Murdoch and Snap, are becoming shareholders in Whistle.
- 10/3/2019
- by Dade Hayes
- Deadline Film + TV
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