Maker Studios confirms Blip acquisition, promises to keep platform up and running

Los Angeles-based Maker Studios officially confirmed the acquisition of Blip Networks Friday, which was first reported two weeks ago, saying that it wants to keep the video site alive. “ will continue to operate as a robust entertainment destination; and the industry-leading Blip sales team will be ramping up their sales game,” said Blip CEO Kelley Day in an email to Blip’s content producers. Day will step down from her CEO position, but remain an advisor to Maker.

Maker didn’t reveal the purchase price, but AllThingsD’s Peter Kafka puts it at less than $10 million in stock, and says Maker is now looking to raise more money.

Maker executive chairmain Ynon Kreiz particularly singled out Blip’s content partnerships and technology platform as “a great complement” to his company’s existing offerings in a statement. Blip has distribution agreements with YouTube, Yahoo!, AOL and Virgin America in addition to its own site and YouTube. Maker was founded as a network of YouTube channels, but the company has been looking for some time to venture beyond Google’s video site.

However, it looks like Maker may also use Blip’s content to grow its footprint on YouTube: Blip producers were told Friday that they were going to get the opportunity to join Maker’s YouTube network in the coming weeks.

This story was corrected at 10:21am to remove a reference to Blip’s Los Angeles-based production studio, which never existed.