ProSieben's Red Arrow Acquires Majority Stake in 'Building Alaska' Producer
The deal for Denver-based Orion Entertainment is the latest step in the U.S. expansion push by the production arm of German TV giant ProSiebenSat.1.
Red Arrow Entertainment Group, the production arm of German TV giant ProSiebenSat.1, on Thursday unveiled the acquisition of a majority stake in U.S. production firm Orion Entertainment, whose shows include DIY's Building Alaska and other non-scripted series.
Financial details weren't disclosed.
The deal is the latest in the ongoing consolidation in the independent production sector. Red Arrow has been one of the players buying into production firms as part of its U.S. expansion. In November, it acquired a majority stake in Karga Seven Pictures. Other Red Arrow companies in the U.S. include Kinetic Content, Fabrik Entertainment, Left/Right Productions and Half Yard Productions.
Founded in 2000 and based in Denver, Orion focuses on non-scripted TV and branded entertainment. Orion has produced more than 1,000 hours of TV programming for such cable networks as HGTV, Discovery, History, DIY, Travel Channel, ESPN and National Geographic. Its recent productions also include Tiny House, Big Living, Living Big Sky and Treehouse Guys. The acquisition expands Red Arrow's U.S. production business into such areas as outdoor adventure programming.
Orion will continue to be led by founder Chris Dorsey, but change its name to Dorsey Pictures.
Jan Frouman, CEO of Red Arrow Entertainment Group, said: "Chris and his wife Amy along with minority partner Larry Sletten have built a terrific business, and we couldn't be more pleased about the chance to partner. They are not only uniquely positioned to deliver access to a vibrant target audience, but will also provide us with essential branded entertainment know-how. Through this we enter into a new business area. We are thrilled to call them our partners."
Said Dorsey: "Red Arrow provides the perfect strategic partner for Orion and their reputation for focusing on high quality content — no matter the platform — is in perfect alignment with our own company goals and directives. Having a partner like Red Arrow only enhances our ability to continue providing the highest-quality programming to our longtime entertainment partners."