German broadcaster ProSiebenSat.1 is looking to sell its production division Red Arrow Studios – the company that owns Bosch producer Fabrik Entertainment and The Circus producer Left/Right. Invest…
Investment bank Morgan Stanley is working with the media group on a “full divestiture” of the business, according to German media trade. A deck has been sent to potential investors, which have until Friday September 13 to express their interest.
It marks a departure from current trends as most broadcasters and media groups are looking to grow their production and content units to fight falling advertising revenues and the threat of streaming services. However, it’s believed that ProSiebenSat.1 may be willing to keep two subsidiaries; German production company Redseven Entertainment and multichannel network Studio71.
The move comes as a number of senior executives have left the business over the last twelve months. In February, Jan Frouman left as Chairman and CEO of Red Arrow Studios, replaced by James Baker, while in October Henrik Pabst left his post as President of distributor Red Arrow Studios International after being promoted to the newly-created role of Chief Commercial Officer at ProSiebenSat.1’s entertainment segment.
Red Arrow Studios operates 20 international production companies including 11 in the U.S. In addition to Fabrik and Left/Right, these include
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Venice: Bac Films Boosts International Sales TeamBac Films, the Paris-based film group behind the Venice Horizons title “My Days of Glory,” has bolstered its international sales division with a new team topped by Marine Goulois and An…
Read more »
42 Things We’ve Been Eyeing From This Year’s Labor Day SalesFrom lobster earrings to fall boots to a rug that'll make your living room look like a garden, here's what BuzzFeed's Shopping & Products team is thinking about buying during this weekend o' deals.
Read more »
Prince Estate Taking Over Management of Paisley Park From Graceland HoldingsPrince's estate will take over management of the late rock star's studio complex near Minneapolis.
Read more »
Germany asks for forgiveness as Poland marks 80th anniversary of warGermany's president asked for forgiveness for his country on Sunday for the...
Read more »
Buoyed by state votes, Germany's AfD takes aim at Merkel coalitionAn emboldened far-right Alternative for Germany (AfD) warned Chancellor Angela M...
Read more »