German broadcasting group ProSiebenSat.1 has decided to keep its transatlantic production subsidiary Red Arrow Studios after determining that a sale or partial sale of the group was no longer possible due to the ongoing coronavirus crisis.
The media giant launched a strategic review of the production and distribution division in September with the aim of selling it or forming a partnership with other potential investors.
A final decision had been expected at the end of 2019 but the group said in December that it was postponing it until some time in the first quarter of 2020.
ProSiebenSat.1 will now hold on to Red Arrow for the long term. “We have now closed the process for the strategic review of Red Arrow Studios as various options we were
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