Warner Bros. is close to clinching a deal acquire full control of Machinima, the gamer-and-fandom-oriented digital network in which the studio is already an investor, Variety has confirmed.
News of the advanced talks between WB and Machinima were first reported by The Information. According to a source close to the negotiations, the deal is not done yet but the parties are “very close” to completing an agreement.
Warner Bros.’ buyout of Machinima would value the digital player at less than $100 million, after the studio declined to meet Machinima’s asking price of $150 million (twice its projected 2016 revenue), according to sources cited by the Information. Jefferies is repping Machinima in the deal, per the report.