Germany's ProSeibenSat buys July August Productions stake

ProSeibenSat 1 will distribute July August Productions' programs around the world through its production arm SevenOne International.

Sources inform ''Globes'' German media giant ProSeibenSat 1 Media AG (DAX: PSM) has acquired the controlling interest in July August Productions Ltd, run by producer Eilon Ratzkovsky, through ProSeibenSat 1's Red Arrow Entertainment Group. July August Productions, owned by Lisa Shiloach and Yossi Uzrad, has consolidated its status in recent years as one of Israel's foremost production companies, especially in television.

The acquisition is a vote of confidence in Israel's creative market, and a first step by an international production and broadcasting company in the Israeli market. Under the deal, ProSeibenSat 1 will distribute July August Productions' programs around the world through its production arm SevenOne International. The value of the deal is estimated at €10 million.

July August Productions is one of the producers of Channel 10's "Still Standing", which was recently sold to NBC, and is one of the TV station's main sources of income. It is also known for original shows such as "The 'A' Word", aired by Channel 2's Keshet Television Ltd., which was also sold to a US network, "The Office", and many others. Uzrad will continue to own a major stake in July August Productions through his company, Jasmine, after the acquisition.

Red Arrow was founded in 2010, and owns seventeen production companies in nine countries. The acquisition of July August Productions is not ProSeiben's first deal in Israel; it has a creative partner, Omri Marcus, who helped arrange the acquisition.

Red Arrow managing director Jan Frouman said, "We've been following Israel as a strategic content market for years, as well as others. However, as in every market, everything depends on finding the right people. With July August Productions and Jasmine, we've hooked up with the best. These are stars, and we're excited to call them partners."

Uzrad said, "We're very proud to link up with Red Arrow. Over the past few months, we've gotten to know its management team well, and I believe that together with their creative forces, we can take July August to the next level. This partnership will enable the company to maintain its status in Israel and to develop new possibilities in the international market."

Published by Globes [online], Israel business news - www.globes-online.com - on May 10, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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