Deal includes AXS TV’s library of wrestling, MMA and entertainment content
TORONTO, DALLAS and LOS ANGELES — Anthem Sports & Entertainment announced it has acquired a majority interest in HDNet LLC, parent company of the US television networks HDNet Movies and AXS TV, founded by Mark Cuban who along with AEG will remain active equity partners. The financial details of the investment were not made public.
Anthem will assume operating management of the two popular channels that cater to music, sports, entertainment and lifestyle audiences. The deal also includes AXS TV’s extensive library of owned programming, including wrestling, MMA and entertainment content.
With this transaction, Anthem channels are now estimated to reach nearly 150 million households globally. In addition, Anthem’s proprietary content is distributed to more than 160 million global TV homes through licensing agreements with some of the world’s premier networks. Anthem’s networks and content also are available on nearly every major streaming service and digital platforms.
“We are very excited to add these two successful channels to our portfolio,” said Leonard Asper, CEO of Anthem Sports & Entertainment, in a news release announcing the investment. “Anthem was founded with a mission to deliver compelling, targeted content and experiences to passionate fans globally on the platform of their choice. The music, sports and entertainment communities served by these channels are a natural extension and perfect complement to our existing properties. The addition of AXS TV and HDNet Movies will allow for increased content ownership, digital expansion and even more compelling programming for consumers and our distribution partners.”
Originally founded as HDNet by Mark Cuban in 2001, AXS TV was rebranded in 2012 after partnering with AEG. Cuban and AEG will continue to participate as equity partners, and AEG Global Partnerships, AEG’s advertising and sponsorship sales unit, will continue to support the channels in conjunction with Anthem’s sales team.
Joining as an investor is entertainer, producer and businessman Steve Harvey, who will also enter into a strategic agreement for content development and promotion of Anthem’s portfolio of channels. Steve Harvey Global will have a seat on the board of directors of Anthem.
“Anthem’s combination of targeted brands, enthusiastic audiences, operational expertise, international footprint and vision makes them an ideal partner to take AXS TV and HDNet Movies to their next levels,” Mark Cuban said in the news release. “Given Anthem’s portfolio of premium content and complementary programming networks, we could not ask for a better home, and we are looking forward to the results we will collectively generate for this new partnership.”
Steve Harvey added: “My team and I see great opportunity in Anthem. They have incredible shows, experiential entertainment, and a huge reach. We look forward to collaborating with Anthem on content development that will surprise and delight this newly expanded audience.”
AXS TV and HDNet Movies will continue operating from their existing facilities in Denver and Los Angeles, and the combined company will include Anthem’s playout and production centre in Toronto and production facilities in Nashville and Europe.
