SoftBank to buy DramaFever
SoftBank to buy DramaFever
Japanese telecommunications and Internet company, SoftBank, is set to buy DramaFever, a video-streaming website. If you're a big fan of Korean drama serials and variety programs, chances are you have heard of DramaFever. The five-year-old startup has an extensive catalog of Korean titles as well as some Spanish content. It also has deals with Netflix and Hulu.
SoftBank seems to be pretty serious about venturing into entertainment as the Japanese company has just entered a $250 million joint venture with Legendary Entertainment. SoftBank and DramaFever are not disclosing the terms of the deal, though IAC has expressed interest earlier this month in acquiring DramaFever at a price between $80 million and $140 million.
Source: TechCrunch
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