FremantleMedia takes majority stake in MCN

FremantleMedia has upped its stake in European multichannel network Divimove to take majority control of the business.

The X Factor and Idol company first took a minority stake in Divimove in late 2013, a year after Brian Ruhe, Philipp Bernecker and Sebastiaan van Dam founded the MCN.

FremantleMedia is now the firm’s majority shareholder. In the 18 months since coming on board, Divimove has grown to 900 million views per month and 1,700 partner channels. It claims to have the top YouTube channels in Spain (Elrubius with 9.8 million subscribers), Italy FavjiTV with 1.5 million) and the Netherlands (Enzo Knol with 550,000).

The partnership has also resulted in talent programme Shootrs, which sees FremantleMedia production expertise combine with Divimove’s talent. The initiative began with FremantleMedia-owned UFA in Germany and Blue Circle in the Netherlands, and will expand this year.

Divimove has also launched a video solutions arm for brands, and launched a fully-fledged management agency under former Warner Music central Europe managing director Michael Brycz.

“For us, the development and support of talent is at the centre of our business and we’re delighted that we have found a partner who has the same values,” said Divimove CEO Reuhe. “Working with FremantleMedia has given us the opportunity to invest even more in our creators and develop new ways to grow their careers. We will continue to do so as we expand our relationship.”

“Divimove‘s amazing growth is a result of an exceptional team and a great roster of content creators,” said FremantleMedia’s CEO, digital and branded entertainment. “Divimove work with really exciting emerging talent across multiple markets, which fits our global TV production business well, and we look forward to working with them even more.”