German media company ProSiebenSat.1 is looking for buyers for its international production subsidiary Red Arrow Studios.
US investment bank Morgen Stanley has been commissioned to handle the sale process, reports German industry news service DWDL, adding that potential investors have received detailed information and can confirm their interest until September 13, 2019.
A ProSiebenSat.1 spokeswoman confirmed that the sale process has been initiated.
According to the report, the sale would cover Red Arrow Studios including distribution unit Red Arrow Studios International, but exclude German production company RedSeven Entertainment and multi-channel network Studio71.
