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Red Arrow Studios sells sales outfit Gravitas Ventures to Anthem for $73m

Katie Holmes feature film The Secret: Dare to Dream

ProSiebenSat.1 Group-owned Red Arrow Studios has sold its US film distribution business Gravitas Ventures to Anthem Sports & Entertainment for US$73m.

Multi-platform media company Anthem has acquired Red Arrow Studios’ majority stake of 62.5% in the LA-based sales outfit.

Red Arrow Studios said the decision to sell reflects the strategic direction of the ProSiebenSat.1 Group’s entertainment unit, which is “clearly focused on the region of Germany, Austria and Switzerland as its core market.”

Gravitas Ventures has been part of Red Arrow Studios, the content production and distribution arm of ProSiebenSat.1, since 2017 and has shopped feature films such as The Secret: Dare to Dream, starring Katie Holmes.

Henrik Pabst, member of the Red Arrow Studios advisory board and chief content officer of Seven.One Entertainment Group, said: “We are consistently pursuing our strategy and placing our focus on local programmes. Accordingly, we are clearly aligning our content, channels and entertainment platforms towards synergies and the German-speaking region.”

Leonard Asper, founder and CEO of Anthem Sports & Entertainment, said: “The expertise of the Gravitas Ventures team will be invaluable as Anthem moves into the digital distribution realm, and we look forward to working with them to expand our collective reach even further with specially developed FAST digital channels that will fully utilise the power of their incredible catalogue.”

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