Skybound Entertainment, 5th Planet Games acquire Icelandic prodco Sagafilm

The Walking Dead producer Skybound Entertainment and game publishing partner 5th Planet Games (5PG) have struck a deal to jointly acquire Icelandic prodco Sagafilm.

Kjartan Thor Thordarson

The acquisition sees Skybound become the majority owner of Stella Blómkvist producer Sagafilm, with video game financing and publishing company 5PG taking a minority stake.

The move takes Skybound’s television operation into Europe for the first time, while building on its Nordic presence following its US$10.5m investment in Copenhagen-based 5PG in September 2021.

Sagafilm will retain ties with Beta Nordic Studios, part of BetaFilm, which acquired a 25% stake in the Icelandic prodco in September 2020.

Sagafilm executives including managing partner and Sagafilm Nordics CEO Kjartan Thor Thordarson and chairman Ragnar Bjorn Agnarsson will continue in their roles. Former Netop Films exec Tjorvi Thorsson has been named as the new CEO of Sagafilm Iceland and all three will become partners in Skybound Entertainment and 5PG.

Rick Jacobs

Rick Jacobs, managing partner of linear entertainment at Skybound, said: “This acquisition signifies a substantial foray into the European TV market for Skybound by leveraging Sagafilm’s exceptional track record for producing premium content and strong presence in the Nordic region. Collaboration opens up new avenues for the development and production of even more original content, establishing a firm foothold for Skybound in Europe.”

With the acquisition, Sagafilm brings to Skybound a slate of content that includes series such as The Minister (RUV), Sisterhood (Viaplay), Stella Blómkvist (Viaplay), Thin Ice (TV4) and Case (Netflix), as well as feature films Operation Napoleon and Cold Trail. Sagafilm has also established itself as a production services company in Iceland.

For Sagafilm, the deal offers the opportunity to access Skybound’s archive of more than 150 properties, digital partner platforms and the chance to upscale their own back catalogue through Skybound’s ‘Wheel of Awesome’ – its business model that offers possibilities to adapt every IP to a myriad of mediums, from live events, comic books, film and television to interactive gaming, merchandising and more.

Mark Stanger

Sagafilm’s Thordarson said: “Gaining access to Skybound’s extensive roster of intellectual property gives us all the opportunity to develop localised as well as English-language adaptations anchored in Europe. We look forward to exploring new avenues through Skybound’s Wheel of Awesome model, through which we can extend our IP into various other forms of media.”

The acquisition also gives 5PG the chance for natural expansion of its video game roots within the Nordics and Europe.

CEO Mark Stanger said: “We are excited that this acquisition will bring significant diversification to our shareholders beyond games, as we embrace Skybound’s innovative Wheel of Awesome model and expand into film and TV in the Nordics. By leveraging Sagafilm’s expertise and industry reputation, we are poised to make a significant impact in the European entertainment landscape.”