Fremantle announced that it has signed a conditional purchase agreement for Asacha Media, a leading European group producing entertainment content, documentaries, TV series and films. The agreement is signed with Oaktree Capital Management L.P (“Oaktree”), Asacha Media’s founding partner, director and fund manager.
The acquisition will involve all eight Asacha Group companies operating in Italy, France, and the United Kingdom, including Picomedia and Stand By Me.
Through this deal, Fremantle will acquire all of the shares in Asacha Media held by American Oaktree Capital Management, making, in effect, Asacha Media a European group.
Andrea Scrosati, Group COO and CEO Continental Europe, Fremantle said, “Fremantle is proud to invest and collaborate with top international creative talent. Gaspard and the team of producers and talent that made Asacha with him certainly fall into this category and we are delighted that they have chosen to join the Fremantle family. This agreement underscores the ambitious growth goals of both companies and we look forward to collaborating with their talents. As an Italian, I am then particularly happy at the closing to welcome back to Fremantle Roberto Sessa and with him the entire Picomedia team and welcome Simona Ercolani and her entire Stand By Me team. This transaction confirms the great attention our group has for Italy, where we continue to invest in the talent, IP and great professionalism that make this country such an extraordinary place.”
Gaspard de Chavagnac, co-founder and co-CEO of the Asacha Media group, also stressed his satisfaction with the agreement reached: “I am thrilled with the agreement with Fremantle, one of the world’s leading groups in television and film production. Fremantle will bring to Asacha Media Group all its experience and resources in content development and distribution to accelerate the growth of our creative labels.”
Photo Credits: Pixabay
