Red Arrow Studios has agreed to sell Gravitas Ventures, the prolific narrative film and documentary distributor with a 3,000-title catalogue, to Anthem Sports & Entertainment, a multi-platform media company with offices and studios in Los Angeles, Denver, Nashville, New York, Kansas City and Toronto.
Red Arrow is the content production and distribution arm of Germany’s ProSiebenSat.1 Group.
The deal, which will launch Gravitas into television distribution, was based on a cash purchase price of $73 million and an additional common stock consideration component.
Anthem owns seven consumer-facing streaming channels: Axs TV (music and entertainment) and Hdnet Movies — acquired from Mark Cuban in 2019; Impact Wrestling; Invicta Fighting Championships (all-women mixed martial arts); Fight Network (combat sports); Game+ (esports and gaming); GameTV; and a significant ownership in outdoor network Pursuit Channel. Anthem and Gravitas will develop new themed channels.
Cleveland-based Gravitas was founded in 2006 and acquired by Red...
Red Arrow is the content production and distribution arm of Germany’s ProSiebenSat.1 Group.
The deal, which will launch Gravitas into television distribution, was based on a cash purchase price of $73 million and an additional common stock consideration component.
Anthem owns seven consumer-facing streaming channels: Axs TV (music and entertainment) and Hdnet Movies — acquired from Mark Cuban in 2019; Impact Wrestling; Invicta Fighting Championships (all-women mixed martial arts); Fight Network (combat sports); Game+ (esports and gaming); GameTV; and a significant ownership in outdoor network Pursuit Channel. Anthem and Gravitas will develop new themed channels.
Cleveland-based Gravitas was founded in 2006 and acquired by Red...
- 11/16/2021
- by Jill Goldsmith
- Deadline Film + TV
Anthem Sports & Entertainment has acquired Gravitas Ventures’ 3,000-title content library from ProSieben’s Red Arrow Studios for $73 million in cash.
The transaction also includes an undisclosed amount of Anthem stock. The Toronto-based media company headed by longtime Canwest TV executive Leonard Asper plans to use the range of documentaries and narrative movies in the Gravitas vault to fuel new free ad-support streaming TV channels, which offer content owners a ready path to monetize movie and TV libraries.
Gravitas’ recent releases include the ensemble comedy “Queen Bees” toplined by Ellen Burstyn and James Caan. Anthem also owns the Axs TV, HD Net and Pursuit TV channels as well as the Impact Wrestling franchises. All told, the Gravitas
Based in Cleveland, Gravitas has acquired and released a wide range of movies since its launch more than 15 years ago. The company’s top executives will join Anthem Sports’ executive roster, including Gravitas founder and CEO Nolan Gallagher,...
The transaction also includes an undisclosed amount of Anthem stock. The Toronto-based media company headed by longtime Canwest TV executive Leonard Asper plans to use the range of documentaries and narrative movies in the Gravitas vault to fuel new free ad-support streaming TV channels, which offer content owners a ready path to monetize movie and TV libraries.
Gravitas’ recent releases include the ensemble comedy “Queen Bees” toplined by Ellen Burstyn and James Caan. Anthem also owns the Axs TV, HD Net and Pursuit TV channels as well as the Impact Wrestling franchises. All told, the Gravitas
Based in Cleveland, Gravitas has acquired and released a wide range of movies since its launch more than 15 years ago. The company’s top executives will join Anthem Sports’ executive roster, including Gravitas founder and CEO Nolan Gallagher,...
- 11/16/2021
- by Cynthia Littleton
- Variety Film + TV
Entire Gravitas Ventures organisation to remain intact.
Multi-platform media company Anthem Sports & Entertainment has acquired Gravitas Ventures from Red Arrow Studios for an undisclosed sum.
The cash and common stock transaction means Gravitas joins a stable that includes Axs TV, HDNet Movies, Impact Wrestling and Game+ and GameTV.
Founder and CEO Nolan Gallagher, president Michael Murphy, EVP and general counsel Brendan Gallagher and CFO Brian Kenyon will be joining the Anthem executive team. The entire Gravitas Ventures organisation will remain intact.
Gravitas Ventures was acquired by Red Arrow Studios in November 2017 and typically releases more than 300 films and documentaries a year.
Multi-platform media company Anthem Sports & Entertainment has acquired Gravitas Ventures from Red Arrow Studios for an undisclosed sum.
The cash and common stock transaction means Gravitas joins a stable that includes Axs TV, HDNet Movies, Impact Wrestling and Game+ and GameTV.
Founder and CEO Nolan Gallagher, president Michael Murphy, EVP and general counsel Brendan Gallagher and CFO Brian Kenyon will be joining the Anthem executive team. The entire Gravitas Ventures organisation will remain intact.
Gravitas Ventures was acquired by Red Arrow Studios in November 2017 and typically releases more than 300 films and documentaries a year.
- 11/16/2021
- by Jeremy Kay
- ScreenDaily
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