Imagine Entertainment has officially announced its merger with rival entertainment company Blizzard Entertainment.
Blizzard Entertainment has more than 2.5 million subscribers on YouTube and other video platforms.
The merger will mean that Imagine Entertainment will become Blizzard’s third largest player on YouTube with more than 1 billion subscribers.
Blizz will retain some of the YouTube’s existing brands including videos, video games, music and movies.
Bliz’s content will remain available on the YouTube.com platform, where users can subscribe to and watch content from other Blizzard properties, including the popular game, Hearthstone, and the video game Overwatch.
The deal also includes the streaming platform YouTube Red, which Blizzard said would create over 200,000 jobs and expand its global audience.
Blitz Entertainment, which is part of Blizzard, said it would provide a broad portfolio of video content, including music videos, game videos, short films, music videos and more.
Blitzer Entertainment will continue to develop and produce video content on YouTube.
Blotner Entertainment, a subsidiary of Blitzer Entertainment, will retain the YouTube Red video platform and will continue the creation and delivery of video programming for YouTube.
Blitzer said it will be an important addition to Blitzer’s video content portfolio.
Blovision Entertainment, Blitzer and Blitz Entertainment will retain YouTube Red as a distribution platform and have full editorial control over the content on Blitzer.
Blitter Entertainment, Blitz Entertainment and Blitz Media will continue producing and distributing video content and other content on the platform, including new content for YouTube Red.
Blast Interactive, which operates YouTube.
Com, will continue development and marketing Blitzer content, Blitters content and Blitz Interactive’s existing platforms for YouTube and YouTube Red platforms.
Blits parent company, Blizzard Interactive, said in a statement that the merger is expected to create approximately 150 new jobs and provide an additional $1 billion in revenues to Blizzard shareholders.
The acquisition of Blizz Entertainment and its assets is expected in the fourth quarter of 2018, with the companies to begin operations in the first quarter of 2019.
Blazers new CEO, Mike Morhaime, is a former YouTube executive.