SK Global acquired Critical Content, the former Relativity spin-off television company, from Anchorage Capital Group.
Terms of the deal for the company formerly known as Relativity TV were not disclosed, but the deal for Tom Forman’s studio allows the Crazy Rich Asians film producer to embark on unscripted television production.
Forman will remain CEO of Critical Content and Jenny Daly will remain President of the company. Critical Content develops, finances, produces and distributes programs for broadcast, cable and streaming platforms.
Anchorage Capital Group bought the television assets of Relativity Media in late 2015 and gave Forman and the company a capital injection of $ 75 million. 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 unmatched unscripted expertise. Tom, Jenny and the Critical Content team have built a powerful business that excels in non-fiction and has successfully grown their business with a wide range of programming across all major streaming platforms, ”said Kimmel and Penotti in a statement.
Besides the MTV franchise Catfish, Critical Content has a list of lifestyle and documentaries for Netflix that includes the Emmy-nominated decluttering series Get organized with The Home Edit and The most incredible vacations in the world.
“We are delighted to have landed with SK Global, whose business strategy and proven leadership team have made it the company best positioned to fuel our expansion into new territories and innovative business opportunities. As we integrate quickly, we look forward to joining forces with Charlie and John to create impactful premium content with SK Global, ”added Forman and Daly in their own statement.
SK Global was represented in the case by Eisner LLP and Bryor Media Partners. Anchorage Capital Group was represented by Sheppard Mullin and ACF Investment Bank.