Warner Bros. to Buy DramaFever


BURBANK: Warner Bros. has entered an agreement to acquire DramaFever, a U.S.-based company that operates subscription and on-demand video services, from SoftBank.

DramaFever offers hundreds of series, variety shows, films and kids’ programs, in multiple languages, and is available in more than 20 countries globally and growing. The service joins Time Warner’s company-wide efforts to reach audiences directly, including the recent acquisition of iStreamPlanet and the launch of SVOD services with HBO NOW in the U.S., and, in partnership with Tencent, Hollywood VIP in China.

DramaFever will continue to operate under that consumer-facing brand and be based in New York.

DramaFever’s co-founders Seung Bak and Suk Park will continue to oversee the company and report to Craig Hunegs, the president of business and strategy at Warner Bros. Television Group.

“This is a great fit for Warner Bros.,” said Hunegs. “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.”

“Warner Bros. is truly the ideal home for us,” said Seung Bak, co-founder and CEO of DramaFever. “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 OTT services and internet TV brands.”