Looking to expand its presence in the teen and young adult market, Warner Bros.Television Group has struck a deal to purchase Alloy Entertainment, a New York-based content company that specializes in youth-oriented books aimed particularly at females.
Although terms of the acquisition from Zelnick Media were not disclosed, people with knowledge of the transaction who declined to speak publicy said the purchase price exceeded $100 million.
Alloy and Warner Bros. have collaborated on a number of TV shows and movies over the last several years. The Burbank TV studio produces several series based on Alloy book properties including “Gossip Girl” and “The Vampire Diaries” on the CW Network, “Pretty Little Liars” and “Lying Game” for the cable channel ABC Family and the upcoming drama “666 Park Avenue,” set to premiere on ABC this fall.
-- Joe Flint, Los Angeles Times