Discovery Communications and Liberty Global have finalised the acquisition of All3Media after having received regulatory clearance.
All3Media group consists of 19 production companies across Europe and the US, and was previously owned by its founders and the Permira funds.
In May, Discovery Communications and Liberty Global formed a joint venture to preserve All3Media’s creative autonomy while providing strategic guidance and investment to support its global growth.
Commenting on the deal, David Zaslav, president and CEO of Discovery Communications, said: “All3Media is a production powerhouse, with a unique ability to attract, foster and retain some of the best creative minds in the business. For nearly 30 years, Discovery has invested in high quality content and today’s deal furthers that commitment.
“Discovery has a proven track record of nurturing creativity and building scale across the world. Working with our valued partner Liberty Global, we will focus on empowering All3Media to continue innovating and delivering even greater stand-out content to its clients and partners across the globe.”
Mike Fries, CEO of Liberty Global, added: “We are excited to be closing the acquisition of All3Media. The business, which produces content for some of our biggest markets in Europe, including the UK, Germany and the Netherlands, is a natural fit for us and our strategy for content. Discovery is the perfect partner too, as they not only commission All3Media content already, but also share our ambition to create compelling, localized content for domestic markets. Together, we will seek to preserve All3Media’s creative independence and support its management to further grow this strong creative business.”
Farah Ramzan Golant, CEO of All3Media, has decided to step down and a global search for a replacement will begin immediately.
Jane Turton, current COO, has been promoted to MD of All3Media and will oversee the transition period, while Neil Bright will continue in his role as CFO.
Co-founders of All3Media Steve Morrison, Jules Burns and David Liddiment are retiring from All3Media’s board of directors.
Steve Morrison will serve as a special advisor to the joint venture’s board of directors, which will have equal representation from Discovery Communications and Liberty Global.
