Some consolidation is coming to the online video industry.
Miracle Mile's Break Media will merge with New York's Alloy Digital, according to the New York Times.
Break Media owns a number of Web properties skewed toward a young, male demographic, including humorous website Break.com and YouTube channel Awe Me. Alloy Digital, meanwhile, targets young men and women through properties such as comedy YouTube channel Smosh and celebrity website Crushable.com.
Alloy Chief Executive Matthew Diamond and Break Chief Executive Keith Richman told the New York Times that the 50-50 merger will create a new company called Defy Media, which will focus on the 12-to-34 demographic. Diamond will become Defy's chief executive and Richman will become president.
Though Alloy is based in New York, it has an L.A. office less than two miles from the Break Media headquarters on Wilshire Boulevard. Alloy has also been on an L.A. acquisition spree, scooping up local firms Smosh, Generate and Clevver in the last two years.
The companies are expected to formally announce the merger later today. A Break Media spokeswoman confirmed to the Business Journal that the deal is pending.