Liquid Media Group has signed a letter of intent to acquire IndieFlix, the subscription video-on-demand streaming service focused on content with a purpose. IndieFlix has evolved its initial offering, by expanding into the live social impact space, and transforming into an edutainment company with a foundation to further support its mission and vision.
IndieFlix’s CEO and co-founder Scilla Andreen is an award-winning producer, director, costume designer and author.
The total value of the deal could reach $65 million. Additional cash will be invested in IndieFlix’s ongoing operations, beginning with immediate availability of a secured bridge loan in the amount of $500,000, to be applied towards working capital and production of original content for IndieFlix’s education and other channels.
“In recent years, IndieFlix wisely expanded, adding B2B to their foundational B2C service, and is now established in distributing social impact-based film programming and curriculum to an impressive array of audiences and markets, including corporate, government, education and others worldwide,” said Ronald Thomson, CEO of Liquid. “Scilla’s vision has grown IndieFlix into a market leader in the social impact category of the edutainment sector. IndieFlix’s operations now go well beyond just video content and into publication of educational materials and other areas complementary to their content.”
“We are extremely excited about our future with Liquid Media Group,” said Andreen. “Our streaming service of content for a purpose and mission to provide monetization to content creators, is perfectly in line with Liquid’s mission to create a comprehensive solution to taking amazing IP from creation to monetization. IndieFlix will continue to operate as its own business with all of the people and resources we have developed over the years so we can continue our good work to create and deliver positive impact programming in the world.”