Red Arrow Entertainment Group, the production subsidiary of German media company ProSiebenSat.1, has acquired a majority stake in global distribution company Gravitas Ventures.
Financial details of the transaction were not disclosed. Gravitas is one of the largest all-rights film distributors in the world, with a particular focus on independently produced films and documentaries for global digital, SVOD and OTT platforms. The US-based company also distributes to theatres and retailers.
Gravitas releases over 400 new films annually and has a library of more than 2,400 English-speaking titles. Since its launch in 2006, Gravitas has been developing a global network of digital media partners and now has over 200 relationships with many providers of transactional video-on-demand, subscription video-on-demand (SVOD), electronic sell through, TV broadcasting and physical home media.
Distribution partners include Altice, Amazon, Apple, AT&T, Charter, Comcast, Cox, DirecTV, Dish, Fandango, Google, HBO, Hulu, Microsoft, Netflix, Redbox, Showtime, Sony, Starz, Verizon, Viacom, Vimeo and Vudu.
Both Gravitas and Red Arrow’s TV distribution arm Red Arrow International, led by Henrik Pabst, will continue to operate as independent Red Arrow businesses, but will be closely aligned to achieve operational and strategic synergies. Both companies intend to make significant investments into global film and TV projects via acquisitions, co-productions and co-financings.
As part of the transaction, all Gravitas Ventures employees will be retained and Nolan Gallagher, Michael Murphy and Brendan Gallagher will remain minority owners and continue to run the business with long-term employment contracts.