Ad network Adconion Media Group has bought production studio and video syndicator KTV Digital Media for an undisclosed amount to form its own video distribution branch, RedLever. The new entity will create branded videos for advertisers and agencies that will run across Adconion's constellation of web sites.
RedLever, based in Santa Monica, Calif., is a rebranding of KTV's operation, and will be used to generate content for 75 of the most popular 100 entertainment and media sites on the web -- reaching up to 50 million unique viewers a month alone, the company says. Adconion's broader network (which includes MySpace, VH1 and the Drudge Report) draws more than 240 million viewers a month. The branded content will be distributed through its Adconion.TV network, founded specifically to give its advertisers a video platform.
At the end of September, Adconion forged a deal with Vuguru, Michael Eisner's new media studio, to distribute its web television series "Back on Topps." This was an early hint that the company was looking to expand into video syndication.
Adconion closed an $80 million third-round of funding in February. Index Ventures and Wellington Partners contributed. As for KTV Digital, even its old domain redirects to the new RedLever web site.