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ZelnickMedia to Acquire Video Content-Business, CEO Says

May 14 (Bloomberg) -- ZelnickMedia Corp., the private equity firm of Take-Two Interactive Software Inc. Chief Executive Officer Strauss Zelnick, is close to making a video-content acquisition.

“Stay tuned, within the next month we expect to acquire another content business,” Zelnick said today in an interview on Bloomberg Television.

Zelnick, who didn’t identify the target, said there is an “opportunity” with short-form video content, citing the different formats that consumers use.

“We can tell a story in 3 minutes. We can tell a story in 6 minutes. But that doesn’t rule out longer-form content -- Netflix is living proof of that,” he said.

Upstart online video networks are attracting younger audiences that major TV networks and their advertisers struggle to reach in large numbers. In the past two months, Walt Disney Co., DreamWorks Animation SKG Inc. and Time Warner Inc.’s Warner Bros. have made deals with such companies.

ZelnickMedia, which focuses on media, entertainment and communications investments, sold Alloy Entertainment to Warner Bros. in 2012.

To contact the reporter on this story: James Callan in New York at jcallan2@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net Rob Golum, James Callan

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