Looks like HBO is done experimenting with online video — at least for now. The cable TV giant has sold its “experimental” online video unit HBOlab to L.A.-based Break Media. Break CEO Keith Richman confirmed that the sale included all of studio’s assets, including offshoot Runawaybox, though he declined to disclose financial terms (per NewTeeVee).
Best known for the YouTube-friendly series Hooking Up, HBOlab fared better than ThisJustIn, the comedy-centric video site HBO launched with Time Warner (NYSE: TWX) sibling *AOL* in 2007. Both companies abruptly pulled the plug on the site after it failed to gain traction, but HBOlab and Runawaybox’s shows have maintained solid followings.
Richman told NewTeeVee that production would continue on existing HBOlab shows; he also said Break would be churning out a number of new branded entertainment projects this year — and that the digital-media company was on the hunt for more acquisitions, though not necessarily another digital studio.