Tuesday, January 29, 2019

Defy Media Creators Likely Out Of Luck

Now defunct, Los Angeles-based multi-channel content network Defy Media is unlikely to be able to pay the $1.7 million it owes more than 50 YouTube creators, after the company's shutdown in November, according to a report. One of the companies which had provided debt funding to Defy Media, Ally Bank, said recently that it expects to experience "a substantial loss" on its loan to the company. Ally Bank said that Defy Media is being liquidated by its board of directors. Defy Media had run the SMOSH, Clevver, Screen Junkies, AWEme, Break, and Made Man brands. The company had previously announced funding from such backers as Wellington Management Company, ABS Capital, Lionsgate, Viacom and ZMC (Zelnick Media Capital).