Maker insists Disney deal is done

Maker Studios’ takeover by the Walt Disney Company will go ahead despite a last-ditch bid from US studio Relativity Media, the YouTube multi-channel network (MCN) has claimed.

Relativity, which is currently producing Bravo’s LOLWork, Sundance’s The Mortified Sessions and GSN’s American Bible, has reportedly offered US$1.1bn for Maker, which boasts 55,000 online channels.

However, Maker confirmed that its shareholders have already approved its purchase by Disney, in a US$500m deal that was agreed last month.

With speculation mounting that the Disney deal could be derailed, with disgruntled Maker co-founder Danny Zappin also embroiled in legal action against the company, the firm issued a statement.

“The [Disney] agreement has been approved by Maker Studios’ board of directors and the majority of its shareholders and is expected to close in the next few weeks, subject to regulatory approval,” the company said.

Maker was founded in 2009 and boasts 380 million subscribers across its network and 5.5 billion video views a month on YouTube, with its producers mostly targeting the younger millennial generation.

The deal could see Disney pay another US$450m if Maker hits certain performance targets. The takeover is expected to close in Disney’s third fiscal quarter.

It is Disney’s biggest acquisition since it bought Star Wars creator LucasFilm for US$4.05bn in late 2012.