Warner Bros. Acquires Machinima

Warner Bros. said Thursday that it has agreed to buy Los Angeles-based content network Machinima. Financial terms of the deal were not announced, however, reports said the deal valued Machinima at less than $100M. Warner Bros. was already one of Machinima's major investors. Machinima operates a YouTube network focused on gamers. Machinima becomes part of Warner's Digital Networks division.