Patty Geneste
The acquisition, which is intended to be finalised prior to MIPTV in late March, was announced by Espen Huseby, CEO of Nordic World, a distributor owned by the Nordic broadcasters TV2 Norway and TV4 Sweden.
Under the deal, Amsterdam-based Absolutely Independent and its portfolio of 150-plus titles will be merged with Nordic World to create a distribution hub for premium content from independent producers from around the world. Nordic World, which has the option to acquire the remaining percentage of Absolutely Independent in three years, intends to rebrand the merged company in the run-up to MIPCOM in October to reflect its new focus on international content as well as the best independent Nordic rights.
Patty Geneste, Absolutely Independent’s founder, CEO and president, will play an active management role within the merged entity, working alongside Huseby and Nordic World’s chief operating officer and director of sales, Jan Salling. Geneste will also gain a seat on the Nordic World board.
Absolutely Independent, founded by Geneste in 1996, comes to Nordic World with a catalogue of more than 125 produced formats and 25 paper formats, including hit shows Find My Family, The Exit List, The Phone, Family Dinner, Who Am I? and Behind Closed Doors, along with a global network and one of the most recognised brands in the international formats industry. Geneste also took over the chair of FRAPA, the Format Recognition and Protection Association, in 2013.
The proposed acquisition of Absolutely Independent marks the next step in Nordic World’s recently unveiled expansion strategy, under which the distributor plans to set up a network of satellite operations and creative alliances across Northern Europe, with particular focus on the English-speaking markets.
Espen Huseby said: “Absolutely Independent is the dream match for Nordic World. We both share a commitment to long-term relationships and the belief that the only real measure of success is the success of our producer and broadcaster clients. After several years of expansion, it’s become clear that we’ve outgrown the opportunities available in the Nordic market and need to look across our borders to maintain momentum. With Patty on board, we are a giant step closer to fulfilling our ambition of becoming the go-to partner for the world’s most creative third-party producers and rights-owners, and the world’s most discerning broadcast platforms.”
Patty Geneste added: “I’ve spent 18 exhilarating years building Absolutely Independent into the formats powerhouse that it is today. But in order to take Absolutely to the next level and achieve the scalability that’s needed to compete effectively in today’s market, the time has come to find a partner. I believe Nordic World is the ‘significant other’ I’ve been waiting for. We share the same vision, the same DNA and the same passion for our business. I am certain we will achieve great things together.”
