EntertainmentGravitas Ventures Offered to Anthem Sports activities & Leisure...

Gravitas Ventures Offered to Anthem Sports activities & Leisure – The Hollywood Reporter


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German media big ProSiebensat 1 is promoting the impartial movie distributor Gravitas Ventures to Anthem Sports activities & Leisure, a holding firm that owns AXS TV, HDNet Motion pictures, Affect Wrestling, Struggle Community and Recreation TV.

Gravitas Ventures had been a part of ProSiebensat 1’s Purple Arrow Studios. Based by Nolan Gallagher in 2006, Gravitas was acquired by Purple Arrow in 2017. The deal is valued at $73 million with extra frequent inventory consideration, and might be a mix of money and inventory.

Gravitas, which is predicated in Cleveland, Ohio, acquires, produces and releases impartial style movies, together with thrillers, comedies, and documentaries like this yr’s Queen Bees, starring Ellen Burstyn and James Caan, and the 2020 documentary, The Mole Agent, which was nominated for an Academy Award in the most effective documentary class.

Whereas the corporate distributes its movies for theatrical launch, lately it has additionally embraced streaming and on-demand enterprise fashions, promoting its movies by way of on-demand platforms like Amazon Prime Video and Google Play, in addition to to streaming providers like Netflix and Hulu.

The deal consists of Gravitas’ 3,000 title catalogue, which Anthem says it hopes to take advantage of to bolster its linear and streaming choices, and to assist it forge relationships with different streaming platforms. The corporate additionally intends to launch free ad-supported streaming platforms (so-called “FAST” platforms) constructed round Gravitas content material.

Gravitas CEO Gallagher, president Michael Murphy, govt vp and normal counsel Brendan Gallagher and CFO Brian Kenyon will all stay with the corporate after closing.

“Anthem completely enhances Gravitas Ventures’ mindset and mission, presenting a number of main platforms the place our movies can thrive whereas opening up dynamic new areas and alternatives that might be important in serving to our firm develop,” mentioned Gallagher in a press release.

The Gravitas CEO provides: “They’ve had large success with all of their acquired properties, taking a hands-on method that exhibits an ideal understanding for his or her distinctive merchandise and what it takes to maintain them on high on this extremely aggressive business. We really feel assured being part of a proficient Anthem workforce that’s greater than outfitted to steer the cost for our filmmakers on this journey, and we couldn’t be extra excited to start this new period within the legacy of Gravitas Ventures.”

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