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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.