Fremantle has bought 12 Nordic production labels from NENT Studios.
NENT Group says the sale is in line with its ambition to focus NENT Studios on scripted content for its Viaplay streaming service, which will be available in at least 15 countries by the end of 2023.
The agreement with Fremantle covers 12 labels in four Nordic countries that operate across non-scripted, scripted and factual businesses: Strong Productions (Denmark); Grillifilms, Moskito Television and Production House (Finland); Monster, Novemberfilm, One Big Happy Family, Playroom, Rakett and Strix TV (Norway); and Baluba and Strix Television (Sweden).
The acquisition adds to the global reach of Got Talent producer Fremantle, whose footprint spans 26 territories.
Gabriel Catrina, NENT Group EVP & Chief Financial Officer: “We are confident that Fremantle’s global reach will create many opportunities for these fine businesses. This agreement concludes the divestments of all the Studios assets that we had planned for. Our remaining Studios assets will now focus primarily on delivering scripted content exclusively for Viaplay, leading to Studios eventually being removed as a separate disclosure of revenue in our reporting.”
Jennifer Mullin, CEO, Fremantle: “This is an exciting opportunity both to grow our presence in the Nordics and embrace a wealth of exceptional new talent into the Fremantle family. Nordic IP is hugely successful internationally, and with our ability to amplify distribution on a global level, I am confident we will be able to take the great content produced by these labels to an even wider audience.”
The transaction is expected to close in Q3 or Q4 this year when NENT Group will report the financial impact of the transaction.
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