Cynthia Littleton Business EditorAnthem Sports & Entertainment has acquired Gravitas Ventures’ 3,000-title content library from ProSieben’s Red Arrow Studios for $73 million in cash.The transaction also includes an undisclosed amount of Anthem stock.
The Toronto-based media company headed by longtime Canwest TV executive Leonard Asper plans to use the range of documentaries and narrative movies in the Gravitas vault to fuel new free ad-support streaming TV channels, which offer content owners a ready path to monetize movie and TV libraries.Gravitas’ recent releases include the ensemble comedy “Queen Bees” toplined by Ellen Burstyn and James Caan.
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