Warner Bros to acquire Korea-focused DramaFever channel


Details

Michelle Clancy

| 28 February 2016




Warner Bros plans to acquire DramaFever, which operates subscription and on-demand video services, including its flagship DramaFever channel.



DramaFever, owned by Softbank, offers hundreds of Korean television and film dramas, as well as programming from other countries, to subscribers in the US and around the world.

The company now joins Time Warner’s company-wide efforts to reach audiences directly via streaming, including the recent acquisition of iStreamPlanet and the launch of SVOD services with HBO NOW in the US, and, in partnership with Tencent, Hollywood VIP in China.

“This is a great fit for Warner Bros,” said Craig Hunegs, president, business and strategy, Warner Bros Television Group.

“With Warner Bros’ resources, we will rapidly enhance and grow the DramaFever channel. As importantly, we are bringing to Warner Bros a great and talented team, led by Seung Bak and Suk Park, that will move quickly with our own distribution and creative teams to create and build more OTT services.”

Terms of the deal were not disclosed but DramaFever’s co-founders Bak and Park will continue to oversee the company and report to Hunegs.

“Warner Bros is truly the ideal home for us,” said Bak. “Combining our deep media sensibilities and experience in developing online video destinations with Warner’s vast library and production expertise will provide an unlimited number of opportunities to create the next generation of over-the-top services and Internet TV brands.”