Viacom takes stake in web content firm Defy

Entertainment conglomerate Viacom has taken a minority stake in web programming giant Defy Media.

In exchange, digital channel operator Defy will acquire Viacom’s gaming companies Addicting Games, GameTrailers and Shockwave.

Defy already counts Lionsgate, ZelnickMedia and ABS Capital as investors, and Viacom will now take a seat at the firm’s board.

Additionally, Viacom and Defy have entered into marketing and content syndication agreements to develop and distribute content to young adult- and teen-skewing audiences.

Defy was created last year following the merger of Alloy Digital and Break Media.

“We formed Defy with the belief that our infrastructure and brands represent the strongest platform in digital media for reach and scale to the 13-34 year old audience, and with Viacom’s partnership we now have additional assets and support to fulfill that vision,” said Matt Diamond, CEO of DEFY Media.