L.A. digital media firm Break Media has merged with New York's Alloy Digital to create Defy Media.
The new company will be headquartered in New York with production, technology, sales and marketing teams in Los Angeles and satellite offices in Chicago, San Francisco, Toronto and Detroit. Alloy Chief Executive Matthew Diamond will head the new firm while Break Chief Executive Keith Richman will become Defy's president.
Break shareholder Lionsgate will join Alloy investors ZelnickMedia and ABS Capital Partners as backers in the 50-50 merger. Alloy Chairwoman Geraldine Laybourne, former chief executive of Oxygen and Nickelodeon TV networks, will join the new company's board along with investor representatives.
The New York Times first reported about the merger last week, but Break and Alloy waited until Monday to announce the completed transaction.
Defy will focus on creating content for the 12 to 34 demographic, combining Break's male-centric network and programming with Alloy's media brands, including Clevver Media and AweMe.
"The merging of our highly complementary strengths greatly enhances a formidable programming and distribution engine designed to innovate content delivery in the digital age, while also elevating compelling brand experiences for our clients and partners," Diamond said in a statement.
Defy Media reports that the combined web properties reach more than 50 million monthly unique users. The firm's YouTube channels have about 30 million subscribers and reach 125 million monthly unique viewers.