Red Arrow Studios sells Gravitas, Ventures To Anthem Sports & Ent. – Deadline

Red Arrow Studios has agreed to sell Gravitas Ventures, the prolific storytelling film and documentary distributor with a 3,000-title catalog, 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 division of Germany’s ProSiebenSat.1 Group.

The agreement, which will launch Gravitas for television distribution, was based on a cash purchase price of $ 73 million and an additional share consideration component.

Anthem owns seven consumer-facing streaming channels: AXS TV (Music and Entertainment) and HDNET Movies – acquired by Mark Cuban in 2019; Impact Wrestling; Invicta Fighting Championships (all women mixed martial arts); Fight Network; Game + (esports and games); GameTV (game shows, reality series); and a significant ownership in the outdoor network Pursuit Channel. Anthem and Gravitas will develop new themed channels.

Cleveland-based Gravitas was founded in 2006 and acquired by Red Arrow in 2017. It releases over 300 films a year, working with increasing talent and established artists and has developed strong partnerships with leading providers throughout AVOD, PVOD, VOD, SVOD , electronic sales via, electronic rental and theatrical. Publications include Quees Bees directed by Michael Lembeck, starring Ellen Burstyn and James Caan; The secret: Dare to dream directed by Andy Tennant and starring Katie Holmes; Our friend, directed by Gabriela Cowperthwaite, starring Casey Affleck, Dakota Johnson and Jason Segel; and Vanguard, directed by Stanley Tong and starring Jackie Chan.

Gravita’s founder and CEO Nolan Gallagher, President Michael Murphy, EVP and general counsel Brendan Gallagher and CFO Brian Kenyon will join Anthem’s management team, and the entire Gravita Ventures organization will remain intact.

“This is a significant step forward for Anthem in its mission to build a next-generation media business ready for the digital future, keeping Anthem at the forefront of the current path of the fast-streaming first-person entertainment ecosystem.” said Anthem Founding CEO Leonard Asper, a former head of the Canadian television station CanWest Global Communications.

“Anthem perfectly complements Gravitas Ventures’ thinking and mission, presenting several great platforms where our films can thrive as they open up dynamic new areas and opportunities that will be critical to helping our business grow,” said Gallagher. . He called the Anthem team “more than equipped to lead our filmmakers on this journey.”

New York-based Progress Partners led by Chris Legg served as M&A financial advisors for Anthem.

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