Core Media Group has acquired Eli Holzman‘s Emmy-winning television production unit The Intellectual Property Corporation (IPC), while additionally rebranding as Industrial Media.
Holzman (pictured) will continue in his role as CEO and founder of IPC and will also serve as CEO of the recently renamed U.S. superindie. He replaces Peter Hurwitz following his exit from Core Media as CEO last fall.
Aaron Saidman, IPC’s president and co-founder, will join Holzman at Industrial Media as the firm’s president and will also remain in his current capacity as president of IPC. Core’s executive chairman Dennis Miller will remain as chairman of Industrial Media and will work alongside Holzman in evaluating M&A opportunities for the newly-minted superindie.
Holzman will lead Industrial Media with a strategy to grow the company both organically and through strategic acquisitions and investments.
Industrial Media’s stable of production outfits will continue to operate independently to develop and produce content for traditional network and cable entities, as well as the digital and SVOD marketplace. The reformed company’s portfolio now includes IPC, 19 Entertainment, Sharp Entertainment, B-17 Entertainment, and B-17′s digital studio Thumb Candy.
The acquisition of IPC and its management team seems to mark a turn-around for Core after filing for Chapter 11 bankruptcy protection and undergoing a company-wide restructuring two years ago.
Core Media was part of the joint venture between 21st Century Fox and Apollo Global Management that merged Apollo’s Endemol and Core with Fox’s Shine Group. However, Core continued operating separately and did not become part of Endemol Shine Group.
Core – now as Industrial Media – is owned by majority shareholder Crestview Partners, Tennenbaum Capital Partners and United Talent Agency, which was instrumental in helping to relaunch a revitalized American Idol on ABC.
“Our partners at Crestview, Tennenbaum and UTA, and the Core management team, especially Dennis Miller and CFO Scott Frosch, and UTA CEO Jeremy Zimmer, have done a brilliant job re-fashioning their assets into a creative, nimble, powerfully resourced studio of the future,” said Holzman in a statement. “Adding IPC to this group and taking advantage of their extraordinary access to talent and capital is a marvelous opportunity for Aaron and me. Continuing to lead IPC now alongside the brilliant producers at the group companies will be a privilege. In this booming content marketplace, there has never been a greater need for a supplier like Industrial Media that can support exceptional filmmakers while delivering consistently and at the highest quality level for our buyers.”
“We have reorganized the company, re-invigorated franchises, and set the stage for a new chapter of growth for our assets and investments,” Miller added. “Eli and his team are incredibly forward-thinking and possess all of the skills and vision needed to not only compete but thrive as they lead our business today and in the future marketplace.”
Since being founded in 2016, the Culver City-based IPC has developed and produced a wide range of non-fiction, documentary and mobile content for the U.S. and international markets. Its production stable includes A&E’s Emmy-winning Leah Remini: Scientology and the Aftermath, Showtime’s Active Shooter and Operation Odessa, Discovery’s Sticker Shock and Amazon’s #FreeMeek.