CNN has announced that it is acquiring Beme, a mobile app launched by YouTube sensation Casey Neistat. The acquisition is reportedly valued at $25 million.

Neistat announced last week that he is quitting his daily video blog. It was only recently that followers got to know that the reason behind his decision is to focus on his app which was acquired by CNN, along with its team composed of 11 staffs.

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Instead of continuing the works of Beme, CNN said that it will shut down the app and will allow Neistat to create a new project to attract his online followers to the media company. Neistat has been given full creative control of the new project and has reportedly allowed to build a separate company that lets its audience discuss "timely and topical videos," according to The Verge.

In an interview with The New York Times, CNN Digital global head Andrew Morse said, "Casey has tapped into nearly six million really powerful viewers, most of which do not tune in to CNN. To build this audience authentically, we believe we need to build something new."

Neistat's new project is slated to be released in the summer of 2017. The project will operate as a standalone extension of the media company.

Neistat, who has 5.8 million subscribers on his YouTube channel, said that his online undertaking would not be a part of his new project with CNN. He added that his contents published on his YouTube channel would not appear on his new CNN project.

TagsCNN, casey neistat, YouTube, youtube sensation, casey neistat star, beme, beme app