Whistle, a digital sports and entertainment media company, reached a deal to acquire Vertical Networks, a content studio focused on Snapchat original shows founded by Elisabeth Murdoch and backed by Snap.
The deal is the second acquisition for Whistle this year, following its purchase of L.A.-based studio New Form, under which that company’s investors — including Discovery, ITV, Ron Howard and Brian Grazer — became shareholders of Whistle.
Financial terms of Whistle’s deal for Vertical Networks were not disclosed. Under the pact, current stockholders of Vertical Networks — which include affiliates of Elisabeth Murdoch and Snap — have received equity shares in Whistle. Founded in 2014, originally called Whistle Sports, the New York-based company has raised over $100 million from investors including Jeffrey Katzenberg’s WndrCo, NBC Sports, Sky Sports, Liberty Global and Tegna.
Whistle currently has 12 shows on Snapchat, including two new Snap Originals, “Can’t Talk Now” and “Two Sides,” produced by New Form, as well as its series “No Days Off,” “Dunk League,” and “Whistle Worthy.”
With Vertical Networks, Whistle will pick up additional Snapchat shows, including “Phone Swap,” now in its seventh season, and the Snapchat Publisher “Story Brother,” which has over 20 million subscribers.
“There’s a natural synergy between Whistle and Vertical Networks, and we are excited to welcome aboard their team,” Whistle president Michael Cohen said in a statement. “We both have mobile-first in our DNA, we invest in data-backed IP creation, and we produce relatable content optimized by platform to engage today’s audiences through both short and longer formats.”
Privately held Whistle claims that, through the acquisitions of Vertical Networks and New Form coupled with organic growth, the company is on track to more than double its revenue in 2019.
more to come