Warner Bros buys Alloy

Warner Bros Television Group (WBTVG) has signed a deal to acquire Gossip Girl and Vampire Diaries prodco Alloy Entertainment from an investor group led by Zelnick Media.

Bruce Rosenblum

Alloy Entertainment president Leslie Morgenstein will stay on to run the company as part of WBTVG. The firm joins Warner Bros Television, Warner Horizon Television, Telepictures Productions and Warner Bros Animation within the studio’s TV division.

The two companies have already worked together on not only the above-mentioned shows for The CW but also Pretty Little Liars, Lying Game and the upcoming ABC drama 666 Park Avenue. Alloy properties, including Sisterhood of the Traveling Pants and The Clique, have also been produced for the big screen via Warner Bros.

“The Warner Bros Television Group and Alloy have enjoyed consistent success together on a number of terrific projects over the last decade,” said Bruce Rosenblum, president of Warner Bros Television Group.

“Alloy Entertainment’s creative and talented team of executives have a unique ability to tap into a young female audience and create content that resonates across multiple platforms.”

Youth publishing and IP specialist Alloy Entertainment is owned by Alloy. The latter’s other businesses, which are not part of the deal, include student recruitment service Alloy Education, teen-focused news network Channel One and digital media arm Alloy Digital, which makes web programming targeted at the 12-34 demographic.

Earlier this year, Alloy Digital acquired Generate, the Los Angeles web studio set up by former The WB boss Jordan Levin. Alloy Entertainment says it will continue to work with Alloy Digital after its takeover. Together the firms have already launched six original web series including Dating Rules From My Future Self, which is due to begin its second season this August.

Zelnick Media and investors including Natixis Caspian Private Equity, Rosemont Solebury Co-Investment Fund and GenSpring Family Offices agreed to acquire Alloy in June 2010. The US$9.80-per-share deal, which closed in November, valued the company at US$126.5m.

No financial details of the WBTVG deal were given, though it is expected to close in the third quarter.