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Thursday, December 11, 2014

Hearst Corp buys 25 percent stake in Dreamworks' Awesomeness TV, (NASDAQ: DWA)

DreamWorks Animation SKG Inc said Hearst Corp has bought a 25 percent stake in its YouTube teen network, Awesomeness TV, for $81.25 million. Hearst Corp is a publisher of newspapers such as the San Francisco Chronicle and Houston Chronicle and Hearst magazines and also operates television channels.Under the deal, Awesomeness TV, which has a subscriber base of over 114 million, will get immediate access to Hearst's subscription video on demand technology to accelerate its ability to offer content directly to consumers across various platforms, DreamWorks said a statement.The two companies will support Awesomeness TV's efforts to enter into new content channels and broaden its audience, the company said.Dreamworks, last year, bought Awesomeness TV, whose videos offer everything from beauty tips to life advice.

DreamWorks Animation SKG, Inc. (DreamWorks Animation) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. Shares of DWA remained unchanged at $21.71. In the past year, the shares have traded as low as $19.20 and as high as $36.01. On average, 1933270 shares of DWA exchange hands on a given day and today's volume is recorded at 877847.