EMG, Gravity Media combine businesses
January 11, 2024
The Boards of Directors of EMG, a provider of broadcast services and media solutions for live sports, entertainment and events, and Gravity Media, a provider of complex live creative production and media services, have confirmed the completion of a definitive agreement to combine their businesses.
The combination of their complementary businesses creates one of the world’s largest and most significant broadcast technology and production companies. By aligning their strengths, expertise, and resources, the enlarged group says it will deliver “an unparalleled range of media services and solutions to clients worldwide”.
The new venture, which will be formally named in due course, will have significant global capability, including more than 100 outside broadcast trucks and flypacks and 40 studios and production facilities across Europe, the Middle East, the US and Australia, which will be part of the new global business. The business will have 30 offices across 12 countries, with a total of 2,000 permanent employees and access to a global network of freelance personnel.
The group will be led by Shaun Gregory, the current CEO of EMG, as its Global Chief Executive Officer. John Newton, Founder, CEO and majority shareholder of Gravity Media, will be appointed Executive Chairman of the new combined group. Both Gregory and Newton will join the main Board of the newly combined group, joining EMG’s existing shareholders PAI Partners, Ackermans & Van Haaren, Watchers & Co and Banijay. TowerBrook Capital Partners, which currently has a significant shareholding in Gravity Media, will retain a stake in the combined group. Newton will maintain his significant interest in the combined entity, of which PAI Partners will be the majority shareholder.
Newton commented: “This is the right time to bring together EMG and Gravity Media to create a truly global production and media services business. This combination will allow us to play an increasingly important role for our customers and our people. Together, the group will offer new products, new services and enter new markets. I look forward to working with Shaun and the broader team to grow this exciting new business.”
Gregory added: “This is a pivotal day for the industry, as we bring together two powerhouses to create a truly global business. Both John and I believe this industry needs entities with significant global capability, that are prepared to invest. Our vision is to create a world-class business that sets new industry standards and can seamlessly enter and grow new markets. This is a fantastic opportunity, which in turn gives our customers the best solutions and quality they rightly demand. We’ll be able to invest in global platforms, end-to-end production and, of course, the best people. We’re looking forward to getting started.”
EMG was advised by Société Générale and Crédit Agricole CIB. Moelis & Company provided advisory services to Gravity Media on the transaction.
The announcement follows the satisfaction of regulatory and other required conditions.