Reports Nine Network in talks to buy youth-focussed Pedestrian TV for $10m
Nine Entertainment is in talks to buy youth online brand Pedestrian TV, with figures as high as $10m being floated for the 10-year-old business.
It is understood that the two parties are in talks but at this stage nothing has been signed.
Nine has declined to comment on the deal but the Australian Financial Review today reports Nine’s digital division Mi9, is tipped to pay $10m for a controlling stake in the online operation, founded by Oscar Martin and Chris Wirasinha in 2005.
Comment is also being sought from Pedestrian TV.
Pedestrian TV targets an audience of 16 to 35 year-olds and claims over 200,000 subscribers to its EDM and social channels.
Were Nine to buy the youth focussed operation it would joint its other online ventures Ninemsn and the Daily Mail Australia.
As a youth orientated brand it competes with the like of South Alliance’s Junkee and US viral content site Buzzfeed, which launched in Australia last year.
Good for Pedestrian. I met with Chris about a year ago – great guy and I hope this comes off for them.
User ID not verified.
Maybe Will Colvin can write for them?
User ID not verified.
Good for Chris and Oscar – excellent people and they’ve built a great business. Hopefully this doesn’t mark the gradual decline of it as so many of these type of acquisitions do…
User ID not verified.
Saw Chris present at Storyology a few years back. What a star.
Here’s a piece of gratuitous advice Chris, dont do it.
What was evident at Storyology – and at every “future of media” event before and since, is that the old guard of dinosaurs havent got a clue – why Newscorpse is even handing out free tablets (to go with the KoolAid)….
You’re young and you’ve got a hot product – keep it under your own control and watch the old media just die off around you….. my 2c worth.
User ID not verified.
I’m really hoping this is an April Fools…
User ID not verified.
@Kane, must be! Pedestrian are laughing all the way to the bank.
Mi9 are more stupid than first thought.
User ID not verified.