Clevver has found a new home for its stable of YouTube channels with female appeal after former parent Defy Media ceased operations last fall.
Hearst Magazines has acquired the portfolio, which reaches an audience of 15 million subscribers.
Like all traditional magazine publishers facing declines in the print business and headwinds in advertising, Hearst has spent the last several years exploring digital media, especially through properties whose demographic appeal matches that of its own brands. Titles under the Hearst umbrella with some kinship with Clevver include Marie Claire, Elle and Cosmopolitan. The company also owns Esquire and Town and Country.
Defy Media, Clevver’s former parent, was known for other millennial-focused digital brands such as SMOSH and Break. Last November, it laid off all employees and halted operations, blaming market conditions for getting in the way of it accomplishing its business goals.
“Our main focus now is to find homes for these great brands and people so that they can continue to thrill and delight their millions of viewers with as little interruption as possible,” the company said in a statement at the time.
Defy Media was formed from the 2013 merger of Alloy Digital and Break Media. It made its mark creating content for youthful, digital-first viewers, attracting 75 million YouTube subscribers and 120 million followers on social media.
THR had first report of the Hearst deal for Clevver.
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