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SK Global has acquired Critical Content, Relativity’s former spun off TV business, from Anchorage Capital Group.
Terms of the deal for the company once known as Relativity TV were not disclosed, but the agreement for Tom Forman’s studio allows the Crazy Rich Asians movie producer to get into unscripted TV production.
Forman will continue as CEO of Critical Content and Jenny Daly will stay on as president of the company. Critical Content develops, finances, produces and distributes programming for broadcast, cable and streaming platforms.
Anchorage Capital Group purchased Relativity Media’s TV assets in late 2015 and gave Forman and the company a $75 million capital infusion. The deal for Critical Content was unveiled by SK Global chairman Sidney Kimmel and co-CEOs Charlie Corwin and John Penotti.
“SK Global is in growth mode, and this acquisition represents the expansion of our content and capabilities with the addition of Critical Content’s unparalleled unscripted expertise. Tom, Jenny and the Critical Content team have built a powerhouse company that excels in the nonfiction arena and has successfully expanded its business with a wide slate of programming across all major streaming platforms,” Kimmel and Penotti said in a statement.
Besides MTV’s franchise Catfish, Critical Content has a lifestyle and documentary slate for Netflix that includes the Emmy-nominated decluttering series Get Organized with The Home Edit and World’s Most Amazing Vacation.
“We are thrilled that we landed with SK Global, whose business strategy and proven leadership team made it the company best positioned to fuel our expansion into new territories and innovative business opportunities. As we quickly integrate, we look forward to combining forces with Charlie and John in building impactful premium content with SK Global,” Forman and Daly added in their own statement.
SK Global was represented in the deal by Eisner LLP and Bryor Media Partners. Anchorage Capital Group was represented by Sheppard Mullin and ACF Investment Bank.
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