TORONTO and LOS ANGELES — Toronto-based media company Anthem Sports and Entertainment announced today it has acquired global film distributor Gravitas Ventures from Red Arrow Studios, the content production and distribution arm of German media company ProSiebenSat.1 Group.
The acquisition, made by Anthem in cash and common stock, includes Gravitas Ventures’ 3,000-title catalogue of films and documentaries, according to Anthem’s press release.
A separate press release from Red Arrow Studios says the company is selling Cleveland-based Gravitas Ventures to Anthem for US$73 million in cash and an undisclosed amount of common stock.
The acquisition helps to position Anthem “as a leader in the exploding content supply industry, bolstering programming for Anthem cable, streaming and VOD channels, and creating new FAST channel opportunities and revenue streams,” says Anthem’s release.
Anthem’s properties already include AXS TV, HDNet Movies, Impact Wrestling, Invicta Fighting Championships, Fight Network, Game+ and GameTV.
“The purchase (of Gravitas Ventures) gives Anthem over 8,000 hours of sports and entertainment content in its library to complement its seven consumer-facing streaming channel brands,” the release says.
Some of the recent films in Gravitas’s portfolio include the 2020 feature The Secret: Dare to Dream, starring Katie Holmes, and the 2021 film Queen Bees, starring Ellen Burstyn and James Caan.
Gravitas Ventures founder and CEO Nolan Gallagher, president Michael Murphy, executive vice-president and general counsel Brendan Gallagher and chief financial officer Brian Kenyon will be joining Anthem’s executive team.
“Upon completion of the transaction, Anthem will add more than 200 customers to its ranks, while unlocking additional promotion opportunities for its various business units and enabling Gravitas to invest further in content opportunities, new themed channels and to enter the television distribution market,” says the press release.
“This is a significant step forward for Anthem in its mission to build a next-generation media company that is primed for the digital future, keeping Anthem ahead of the curve with the current trajectory of the fast-paced streaming-first entertainment ecosystem,” said Leonard Asper, founder and CEO of Anthem, in the release.
“Gravitas is a world leader in film and documentary distribution and provides Anthem with a major presence across the top digital platforms. We are happy to welcome Nolan, Michael, Brendan, Brian and the Gravitas team on board, and to broaden our shareholder base to include Gravitas Ventures’ management and Red Arrow Studios. We are excited to build upon the incredible success that they have already achieved.”
