US-based over-the-top platform Cinedigm has acquired an 85% stake in fandom-focused OTT network CONtv.
Wizard World, which previously had a 42.5% stake in the business, will retain a 10% shareholding, and remain an event and marketing partner for CONtv.
This comes after LA-based Cinedigm revealed a slate of paid-for, thematic digital channels, one of which was a CONtv network that focuses on original content from Comic Cons and fandom events around the world.
The CONtv platform, distributed across various devices and TV sets, has been downloaded 600,000 times, according to Cinedigm.
“We appreciate all that Wizard World brings to CONtv – from exclusive event access to marketing support to their legions of followers,” said Chris McGurk, chairman and CEO, Cinedigm.
“Going forward, we all agreed it makes sense for our companies to focus on what we do best. For Cinedigm that is running OTT channels, and for Wizard World it’s all about putting on top notch events and conventions.”
CONtv currently has around 2,500 hours of original shows.