Investment group 1091 Media has entered into an agreement in principle to wholly acquire The Orchard Film Group from global music distribution company The Orchard.
Under the deal, 1091 Media, which is affiliated with the leadership team of digital media holding company Dimensional Associates, will pick up all existing operations of The Orchard’s film and TV business, which will then proceed as a yet to be named new company. The new outfit is expected to continue investing in content, and pursuing further opportunities in video content and distribution.
Additional terms of the deal not disclosed.
The Orchard says it is divesting its film and TV division to focus its resources and investment on its global core music operations. The agreement with 1091 Media reunites the Film Group with its original ownership team.
1091 Media and its principals are growth investors who also lead Dimensional Associates, the private equity arm of JDS Capital Management, Inc. From 2003-2015, they owned a variety of media companies through Dimensional, including The Orchard.