Alston & Bird client CNN has acquired video-sharing start-up Beme, the social app co-founded by popular YouTube star Casey Neistat.
CNN is acquiring the talent and technology behind the app, which launched in summer of 2015, to create a new brand focusing on a millennial audience.
As part of the transaction, CNN will discontinue the app, with Neistat and Beme’s 11 employees joining CNN to form a separate technology unit focusing on the new media venture and CNN’s wider mobile video efforts.
Advising CNN on the transaction was an Alston & Bird team led by partner Aaron Dixon and senior associate Charlie Yates, assisted by partner Janine Brown, associate Brittany Raway (Corporate & Business Transactions), partner Brian Harvel (Federal & International Tax), and partner Katherine Wallace and associate Megan Orme (Technology and Privacy).
CNN is acquiring the talent and technology behind the app, which launched in summer of 2015, to create a new brand focusing on a millennial audience.
As part of the transaction, CNN will discontinue the app, with Neistat and Beme’s 11 employees joining CNN to form a separate technology unit focusing on the new media venture and CNN’s wider mobile video efforts.
Advising CNN on the transaction was an Alston & Bird team led by partner Aaron Dixon and senior associate Charlie Yates, assisted by partner Janine Brown, associate Brittany Raway (Corporate & Business Transactions), partner Brian Harvel (Federal & International Tax), and partner Katherine Wallace and associate Megan Orme (Technology and Privacy).