Blue Ant Media Acquires U.S. Doc Streamer MagellanTV In $12M Deal
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Blue Ant Media, the Canadian streamer and studio, has acquired Washington-based online documentary video serviceMagellanTV in a $12M deal.
MagellanTV was founded in 2018 by Greg Diefenbach and Thomas Lucas, veterans of National Geographic, PBS, and Discovery. The company operates a streaming service and FAST channels, boasting originals such asWild El Salvador: In the Shadow of the Volcanoes, starring Nigel Marven.
Blue Ant Media will pay $6M in cash up front for MagellanTV, with the remaining half committed over a two-period in either cash or voting shares in Blue Ant. Under the agreement, Diefenbach will join Blue Ant as EVP of streaming, while Lucas “will remain involved” for several months to smooth the transition.
Michael MacMillan, CEO of Blue Ant, said: “This acquisition of MagellanTV increases Blue Ant’s scale and adds audiences and distribution capabilities that are highly complementary to our business.”
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The MagellanTV takeover followsBlue Ant listing on the Toronto Stock Exchange in August through a reverse takeover of Boat Rocker Media.
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