Disney to buy YouTube network Maker for $500M

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by Associated Press

Associated Press

Posted on March 24, 2014 at 3:01 PM

Updated Monday, Mar 24 at 11:04 PM

LOS ANGELES (AP) — Disney is buying Maker Studios, an operator of YouTube video channels, for $500 million, as consumers watch more videos online.

The purchase gives Disney ownership of 55,000 channels with 380 million subscribers and 5.5 billion views per month.

Disney CEO Bob Iger said in a statement Monday that short-form online video is growing fast. He says the acquisition puts Disney at the center of a dynamic industry.

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