Warner Bros. Acquires Gaming Culture Hub Machinima

In a deal rumored to be valued around $100 million

Machinima, a digital programmer with a focus on gaming and fandom culture, was just acquired by Warner Bros.

According to Variety, sources familiar with the deal estimate the value to be around $100 million. 

The Information first reported rumors of an acquisition about a month ago and suggested a similar price. Today's news comes after Warner Bros. made two rounds of investments totaling $40 million in the company.

Machinima is built from the fans up and will "operate as a wholly-owned part of the recently formed Warner Bros. Digital Networks group, housing the studio's digital and over-the-top businesses," according to Variety.

"Since making their first investment in Machinima in 2014, Warner Bros. has been an active business partner in our transformation, so we already have proof points as to how the companies can work together to accelerate Machinima's growth plans," Machinima CEO Chad Gutstein said in a statement to Variety. "We'll now be able to take full advantage of Warner Bros.' intellectual property, sales and distribution, while still creating content for social and premium digital platforms that gamers and geeks love."

Machinima reaches over 151 million dedicated viewers each month, and coordinates a talent network of over 30,000 people.

"Machinima is a strong gamer and fandom content and social brand with enormous reach and high engagement with audiences that play our games and are big fans of DC films and television shows," said Craig Hunegs, president of business and strategy for Warner Bros. Television Group and president of Warner Bros. Digital Networks, in a statement to Variety. "This acquisition is another meaningful move forward as Warner Bros. develops more direct relationships with our consumers."

The move is a step for Warner Bros. as it tries to stay relevant and embrace the gaming culture as a whole.