Maker Studios Head Courtney Holt to Step Down for EVP Role Within Disney

READ ON: TheWrapTheWrap

Maker Studios head Courtney Holt is stepping down from his current role to transition to a new role within parent company Disney, TheWrap has learned.

An individual with knowledge of the situation says that Holt will take on the new role of executive vice president of media and strategy. Maker will now be overseen by Andrew Sugerman, executive vice president of content and media within Disney Consumer Products and Interactive Media (DCPI).

Holt joined Maker after serving as an advisor to News Corp. Digital and as president of MySpace Music, a joint venture between MySpace and major record labels and publishers. Previously, he was executive vice president of digital media and music for the MTV Networks Music and Logo Group, part of Viacom.

Disney acquired Maker in 2014 in a $500 million deal — with up to $450 million more if incentives were met. Maker has failed to meet those targets, receiving only about $200 million.

The multichannel network hosts Internet hits like “Epic Rap Battles of History,” and one of the channel’s sub-networks is home to PewDiePie, a gaming commentator who fronts the world’s most-subscribed YouTube channel.

But the company has hit some speed bumps since the acquisition, as synergies with Disney have been slow to take shape, and several executives departed from the company. In January, Holt replaced Ynon Kreiz as the head of the multichannel network.

Variety first reported this news.

Related stories from TheWrap:

Maker Studios' Sam Wick Joins UTA's Digital Media Department

Maker Studios Partners With Lakeshore Entertainment's Off The Dock for Digital Mockumentary

TheGrill 2015: Maker Studios, AwesomenessTV CEOs Compare Video on YouTube and Facebook (Video)