United Screens gets acquired by German media group RTL for $15M.
United Screens, a Stockholm, Sweden-based media company, providing a multi platform network, focusing on online video and working with creators, advertisers and rights owners, announced getting into an agreement with RTL Group to sell the company. RTL Group is majority owned by Bertelsmann, one of the world’s largest media companies.
The purchase agreement provides for a price of SEK 120M ($14.7M) on a debt and cash-free basis subject to usual post-closing adjustments. Additionally, RTL Group plans to invest SEK 25 million ($3M) to fund the company’s growth plan across the Nordic region.
United Screens, founded in 2013 by Stina Bergfors and Malte Andreasson, started as a YouTube Multi-channel network (MCN) empowering its creators, “youtubers”, through a variety of premium services to grow viewership and revenue.
The company, which also has offices in in Oslo, Norway and Helsinki, Finland, is one of the largest YouTube network in the Nordics, both in terms of views/watch time and in terms of turnover and financial results. In 2016 it was not proftable, with recorded losses of SEK 2M at a turnover of almost SEK 80M ($9.8M).
United Screens was backed by Bonnier Ventures, which now exits its equity position.