Global production giant Endemol has acquired a majority stake in LA-based Authentic Entertainment, the prodco behind Ace of Cakes and The Best Thing I Ever Ate. Founded in 2000 by Lauren Lexton and Tom Rogan, Authentic now produces more than 200 hours of programming per year and has made realscreen‘s Global 100 list for the past four years. ‘We are proud to become a part of one of the world’s most creative and successful content producers,’ said Lexton in a statement. ‘This deal reinforces our position in the U.S. while also giving us the global leverage that comes with belonging to the Endemol network.’ Rogan added that Authentic is ‘very much looking forward to working with the Endemol Group’s extremely talented teams, both in the US and internationally, to build on the success we’ve achieved over the last ten years.’
Endemol North America chairman David Goldberg said Endemol had been ‘following their growth over the last few years and were impressed by the variety and quality of their shows. This growth, and the versatility in their programming will only help to further diversify Endemol North America’s business.’ Endemol group chairman and CEO Ynon Kreiz added that the deal ‘is in line with Endemol’s global growth strategy of combining organic growth and expansion through acquisitions. Authentic’s great portfolio of hit shows and strong creative track record will also significantly contribute to our plans for further growth in the US cable space.’
Authentic Entertainment is represented by CAA and Evolution Media Capital advised Authentic Entertainment on the transaction. Ron Milkes, SVP of operations, strategy & corporate development for Endemol USA, steered the transaction for Endemol. While neither company has given financial information regarding the acquisition, reports have placed an unverified US$60 million price tag on the deal.