DramaFever is getting acquired by Warner Bros. but its Philly office will remain - Technical.ly Philly

Business

Mar. 2, 2016 7:35 am

DramaFever is getting acquired by Warner Bros. but its Philly office will remain

The New York City company has long had a Philadelphia engineering office, and CTO Darrel Herbst told us it will only grow after the acquisition.

DramaFever's engineering team in the company's new Center City office.

(Courtesy photo)

DramaFever is getting acquired by Warner Bros., but the Philly engineering office is here to stay, said CTO Darrel Herbst.

DramaFever, a Manhattan-based company known as a Netflix for Korean and other international TV and movies, has had an office in Philadelphia (Narberth, specifically), led by Herbst, since 2010. The outpost recently moved into Center City to help with its hiring efforts. The Philly office employs 26 and will continue to grow post-acquisition, Herbst said, adding that they’re currently hiring. He couldn’t elaborate on what the acquisition would mean for the Philly office because the deal hasn’t closed yet.

Terms of the deal weren’t disclosed, but the Wall Street Journal reported that the deal was for less than $100 million, which was how much Japanese company SoftBank paid to acquire DramaFever in 2014.

How might the DramaFever team celebrate? We hear they like karaoke.

-30-
Juliana Reyes

Juliana Reyes became Technical.ly's associate editor after reporting on the Philadelphia tech scene for four years. She's co-president of the Asian American Journalists Association Philadelphia chapter and a two-time Philadelphia News Award winner for "Community Reporting of the Year." The Bryn Mawr College grad lives in West Philly, likes her food spicy and wears jumpsuits often.

Advertisement

Sign-up for regular updates from Technical.ly