maniaTV founder Drew Massey, who helped bring the online video company back from the dead last year, is looking to do the same with Veoh, the San Diego, Calif.–based Web firm that filed for bankruptcy a few weeks ago.
Massey has retained the services of Messier Partners to explore acquiring the assets of Veoh, a Web video pioneer, which has cycled through various business models over the past several years. The site, which was originally backed by former Disney CEO Michael Eisner, went through phases as a video distribution hub, an IPTV platform and a Web video DVR before shutting down in mid-February.
Last spring, Massey bought back maniaTV from a group of venture capital investors. The site was originally conceived as an online network for live entertainment series (it eventually shut down in 2009) until Massey came to the rescue. Since then, Massey has reupped maniaTV’s commitment to what he calls “MTV-style original programming for the Web.”
That content focus should be a good match for Veoh, which skews toward young 18- to 34-year-old males. Massey hasn’t completely ironed out his plans should he acquire Veoh, but he saw the site as a potential promotional platform for maniaTV programming.
“They’ve still got a huge audience,” he said. “And we’d leverage it with premium programming. We’d like to keep Veoh going while helping growing Mania.”