The purchaser of the stake was ProSiebenSat.1’s production/distribution group, Red Arrow Entertainment.
The amount of the transaction was not disclosed.
Led by Michael Green, Chairman, Collective Digital Studio operates a a YouTube multichannel network with over 600 channels delivering nearly a billion views a month. It distributes premium online content to television and is known for producing the web series Video Game High School and TV shows for The Annoying Orange, Epic Meal Time and FЯED.
a subsidiary of Collective Management Group, CDS also delivers branded content initiatives for Fortune 200 brands, including Verizon, Dodge, Estee Lauder, Unilever, Procter & Gamble, Toyota, Sony PlayStation, etc.
Its sales organization includes offices in New York, Los Angeles, Detroit and San Francisco.
In August 2013 ProSiebenSat.1 formed its own multichannel network, Studio71, a provider of online video content in Germany and now the goal of the new partnership is to jointly build a leading multichannel network and exploit synergies between the companies.