Blue Ant Media Acquires MagellanTV for $12M, Expanding Reach and Adding Complementary Audiences
Blue Ant Media has made its first strategic acquisition following a recent return to the Toronto Stock Exchange. The company has purchased MagellanTV, a digital streaming service, for $12 million (€10.2 million). The deal brings complementary audiences and distribution capabilities to Blue Ant, expanding its reach across multiple platforms.
MagellanTV, founded by Greg Diefenbach, offers factual content through a subscription video on demand (SVoD) service and free, ad-supported streaming TV (FAST) channels. The platform is available in 13 countries and can be accessed on over 20 platforms, including popular devices like Roku, Amazon, and Apple.
Following the acquisition, Diefenbach will join Blue Ant as Executive Vice President, Streaming. He will report to Carlyn Staudt and oversee Blue Ant's direct-to-consumer and subscription video businesses. Michael MacMillan, CEO of Blue Ant, expressed enthusiasm about the acquisition, stating it increases Blue Ant's scale and adds complementary audiences and distribution capabilities.
The acquisition of MagellanTV by Blue Ant Media marks a significant step in the company's growth strategy. The deal brings a wealth of factual content and expands Blue Ant's reach across various platforms. Greg Diefenbach's appointment as Executive Vice President, Streaming further strengthens Blue Ant's leadership team, positioning the company for continued success in the streaming landscape.
