ZelnickMedia Corp., the private equity firm of Take-Two Interactive Software Inc. chief executive Strauss Zelnick, is close to making a video- content acquisition.
“Stay tuned, within the next month we expect to acquire another content business,” Zelnick said today in an interview on Bloomberg Television today.
Zelnick, who didn’t identify the target, said there is an “opportunity” with short-form video content, citing the different formats that consumers use.
“We can tell a story in 3 minutes. We can tell a story in 6 minutes. But that doesn’t rule out longer-form content -- Netflix is living proof of that,” he said.
Online video networks are attracting younger audiences that major TV networks and their advertisers struggle to reach in large numbers. In the past two months, Walt Disney Co., DreamWorks Animation SKG Inc. and Time Warner Inc.’s Warner Bros. have made deals with such companies. For more, see "The Buyside: Disney, Warner Bros. Seek Next-Gen YouTubes."
ZelnickMedia, which focuses on media, entertainment and communications investments, sold Alloy Entertainment to Warner Bros. in 2012.