Lions Gate Entertainment Buys 42% of Break.com for $21 Million
Break.com, a video website based in Beverly Hills, Calif. has raised a substantial amount of money.Â Since the company’s inception in 1998, it has been self-funded and constantly serving videos for the general Internet public.Â The website receives roughly 17 million unique visitors per month and may possibly have some of its video uploaders hired for production deals.
The amount of funding received isÂ $21 million and was invested by Lions Gate Entertainment Corporation (NYSE:LGF) for a 42% stake in Break.com.Â Lions Gate is known for producing films such as The Descent and horror movie, Hostel: Part II, and Academy Award winner, CRASH.
“We see this as a good opportunity,” stated Peter Wilkes, a Lions Gate spokesman. “It’s a smart, savvy site that’s targeted to a young male demographic with which we’re very familiar.”
Lions Gate’s library includes 11,000 motion pictures and TV episodes.Â Lions will be levaraging Break.com’s technology in getting some of this content online.
“Break is one of the freshest and most original platforms for content in the new media space,” stated Lions Gate’s CEO and Co-Chairman, Jon Feltheimer.Â “They immediately appealed to us as an ideal fit.Â They serve a large niche that we know well, and they are another entrepreneurial partner whose culture, business plan, and creative sensibilities blend seamlessly with our own.”
According to Hitwise Media, Break.com ranks as the 11th place destination for males with 17 million unique visitors as mentioned above, 550 million page views, and 300 million streamed videos per month.Â Break.com also currently has parnterships with NBC, Endemol, and Twisted Pictures.Â YouTube, watch out.
 PaidContent: Video Site Break.com Gets Funding From Lionsgate; $21 Million For 42 Percent Stake
 PRNewswire: Lionsgate Makes Equity Investment in Break.com
 Bloomberg.com: Lions Gate Buys Stake in Online Video Distributor Break.com