Los Angeles-headquartered film and TV studio SK Global has acquired Catfish prodco Critical Content.
SK Global, which boasts the hit film Crazy Rich Asians among its credits, acquired the company from Anchorage Capital Group. In 2015, Anchorage and other investors put forward US$75 million to buy the TV assets of Relativity Media, forming Relativity Television, with Tom Forman at the helm as CEO. In 2016, the company relaunched as Critical Content.
Forman (pictured, right) will remain as CEO of Critical Content and Jenny Daly (left), who was named president of Critical Content in 2018 following Critical’s acquisition of her T Group Productions, will remain in her role.
“SK Global is in growth mode, and this acquisition represents the expansion of our content and capabilities with the addition of Critical Content’s unparalleled unscripted expertise,” said SK Global chairman Sidney Kimmel and co-chief executive officer John Penotti in a joint statement.
“Tom, Jenny and the Critical Content team have built a powerhouse company that excels in the non-fiction arena and has successfully expanded its business with a wide slate of programming across all major streaming platforms. Critical Content’s prowess in reality series and specials presents the perfect complement to SK Global’s award winning feature film and scripted television business. Our intention is to build the top independent content company at scale, with the ability to tell stories in every format and genre.”
SK Global co-chief CEO Charlie Corwin added: “Not since my time as co-chairman and CEO of Endemol Shine Americas have I seen reality programming in such high demand with audiences and buyers. I believe there is a big opportunity in the reinvention and resurgence of the global format business. In fact, our mission is to create culturally-specific story franchises that are accessible to a global audience through brand extensions. Now with Critical Content, this approach applies to movies and television, scripted and unscripted.”
In addition to the long-running MTV franchise Catfish, Critical Content is also behind series like Netflix’s Get Organized with The Home Edit and World’s Most Amazing Vacation, and is in development and production on projects for a variety of broadcast and cable networks and streaming platforms. In 2017, the company took a stake in UK prodco Renowned Films.
SK Global was represented in the deal by Eisner LLP and Bryor Media Partners. Anchorage Capital Group was represented by Sheppard Mullin and ACF Investment Bank. Terms for the deal have not been disclosed.