Brunico closes NATPE deal
January 3, 2023
Following reports of a bid in November 2022, the assets of National Association of Television Program Executives (NATPE) have been acquired by Brunico Communications, the Canada-based operator of the Banff World Media Festival.
NAPTE filed for bankruptcy protection in the autumn of 2022 after running into a financial difficulties following the cancellations of several events amid pandemic lockdowns. Terms of the acquisition deal with Brunico were not disclosed, but it’s reported the company put forth an initial $150,000 (€142k) stalking horse bid for the NATPE assets, which included taking on outstanding debt. A US bankruptcy court has now approved the acquisition, which is expected to close by the end of January.
“The international content community has been waiting patiently for the return of NATPE, and we are very excited to welcome back our new clients and delegates. Brunico will be reaching out to all NATPE partners in short order to discuss the transition and our plans for the future,” commented, Russell Goldstein, Brunico president and CEO.
Andy Kaplan, chair of NATPE’s board, added: “With a distinguished track record building must-attend content markets like Realscreen Summit and Kidscreen Summit, and then reinvigorating the widely-acclaimed Banff World Media Festival, we could not be more pleased with this outcome. With the Board’s full support, Brunico is ideally positioned to elevate NATPE to new heights.”