The German media group is “considering all options” for its international production division, which controls 20 companies worldwide and produces such shows as Amazon's 'Bosch' and 'The Weekly' for FX and Hulu.
that the company has brought in investment bank Morgan Stanley to look at all possibilities for Red Arrow, including selling part or all of the group.
Red Arrow Studios is an umbrella company that bundles together ProSiebenSat.1's international production subsidiaries as well as its world sales arm. Red Arrow controls 11 production companies in the U.S., as well as firms in the U.K., Canada, Denmark and Israel. ProSiebenSat.1 is in the midst of a major corporate overhaul as the company, which operates numerous television channels in Germany, tries to shift its programming strategy from focusing largely on the acquisition of U.S. series and films to more in-house production. The shift was prompted by new boss Max Conze, who was named ProSiebenSat.1 CEO last year. James Baker was appointed the new CEO of Red Arrow Studios in 2018 as well.
The new strategy shows signs of paying off. ProSieben's local adaptation of costumed singing competitionwas a huge hit for the network and ProSiebenSat.1's German channels posted their best second-quarter performance in four years. Quarterly revenue was also up, though the company still posted a sharp drop in profits.
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