NYT: Alloy Digital, Break Media to Merge Web video players represent top YouTube talent

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Two major players in the Web video space, Alloy Digital and Break Media, plan to merge into a new company called Defy Media, according to a New York Times report.

Both Alloy Digital and Break Media house top YouTube talent, including Smosh and ScreenJunkies, respectively. According to the Times, Alloy CEO Matthew Diamond will become Defy Media's new chief executive; Break Media CEO Keith Richman will be the new company's president.

The Web video execs told the Times that combining forces would better position the companies to make money off of YouTube, which takes a considerable chunk of revenue from videos hosted on the platform.

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In just a couple short years, Web video has matured from a burgeoning category to a dynamic new business distinct from TV. As a result, the biggest producers, executives and talent in the business are getting onboard, and the Web is nurturing its own breed of stars and storytelling genres. VideoWatch is dedicated to chronicling the players and developments in this exciting new industry. 

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