Anthem Sports & Entertainment buys film distributor Gravitas Ventures

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...