US-based entertainment conglomerate Walt Disney Company is considering further digital media acquisitions, chief financial officer Jay Rasulo revealed during a keynote speech at the Consumer Electronics Show, TechCrunch reported yesterday.
Disney acquired Maker Studios, a multichannel network on YouTube, for an initial $500m in March 2014. The deal could rise to $950m if Maker can reach certain performance milestones.
Disney had also hoped to acquire online media company BuzzFeed last year, before talks broke down after Disney refused to meet the company’s $1bn valuation.
Rasulo stated Disney’s next acquisition would likely revolve around digital distribution, though no specific deal appears to be in the works yet. Disney currently relies on third-party distribution channels such as cinemas, television networks or online video networks for much of its content.
Rasulo said: “Our acquisition strategy has been pretty clear. We are looking for one of two things. Intellectual property that we can distribute through the Disney ecosystem, which today is theme parks, theatrical, TV, cruise ships etc., or something that we can use to extend that network.”