Blue Ant Media has acquired digital streaming company, MagellanTV, for $12M USD, its first strategic acquisition following its recent “go public” reverse takeover.

MagellanTV, which is focused on premium factual content, expands Blue Ant’s Global Channels and Streaming business.

Founded in 2018 by Greg Diefenbach and Thomas Lucas, veterans of National Geographic, PBS and Discovery, MagellanTV operates a streaming video-on-demand (SVOD) service and a portfolio of advertising video-on-demand (AVOD) and free, ad-supported streaming television (FAST) channels across genres including history, nature, science, space, and true crime. Its distribution partnerships span Roku, Amazon, Apple, Samsung, LG, Comcast, Vizio, Pluto TV, and Google, reaching audiences in 13 countries across more than 20 platforms.

“This acquisition of MagellanTV increases Blue Ant’s scale and adds audiences and distribution capabilities that are highly complementary to our business,” said Michael MacMillan, CEO, Blue Ant, in a company announcement. “MagellanTV’s business model is primed for optimization within our global infrastructure, and we’re thrilled to welcome the talented team to Blue Ant.”

Diefenbach joins Blue Ant as Executive Vice President, Streaming, overseeing the company’s direct-to-consumer and subscription video businesses, reporting to Carlyn Staudt, President, Global Channels and Streaming. Lucas will remain involved for several months to support the transition.

Blue Ant says the acquisition opens up immediate opportunities to increase margins by adding 1,500+ hours of Blue Ant-owned library, while reducing reliance on licensed or revenue-shared content. The company said other synergies include operational efficiencies from consolidating infrastructure and resources, as well as cross-promotion across brands, in addition to increasing commissioning capacity to greenlight and monetize new content.