Latest News
Anthem Sports and Entertainment Acquires Majority Interest in AXS TV and HDNet Movies Networks
Monday 16 September 2019

16 September 2019 - US media company Anthem Sports and Entertainment has acquired a majority interest in Dallas, US-based HDNet LLC, parent of US television networks AXS TV and HDNet Movies, with an agreement to assume operating management of the two channels that cater to music, sports, entertainment and lifestyle audiences, the company said.
Terms of the transaction were not disclosed.
The deal also includes AXS TV's extensive library of owned programming, including wrestling, MMA and entertainment content.
The two networks add to Anthem's portfolio of content, which is currently available in 120 countries and includes diverse and popular sports and entertainment programming targeted to passionate communities with a focus on millennial viewers.
Mark Cuban and AEG will continue to participate as equity partners, and AEG Global Partnerships, AEG's advertising and sponsorship sales unit, will continue to support the channels in conjunction with Anthem's sales team.
Joining as an investor is entertainer, producer and businessman Steve Harvey, who will also enter into a strategic agreement for content development and promotion of Anthem's portfolio of channels. Steve Harvey Global will have a seat on the board of directors of Anthem.
AXS TV and HDNet Movies will continue operating from their existing facilities in Denver and Los Angeles, and the combined company will include Anthem's playout and production centre in Toronto and production facilities in Nashville and Europe.
With this transaction, Anthem channels are now estimated to reach nearly 150m global TV homes, including more than 110m MVPD-served TV households in the US and Canada.
In addition, Anthem's proprietary content is distributed to more than 160 m global TV homes through licensing agreements with some of the world's premier networks. Anthem's networks and content also are available on nearly every major streaming service and digital platforms.
AXS TV is a leading music, entertainment and lifestyle channel, including live concerts and sports events, originally founded as HDNET by Mark Cuban in 2001.
The channel was rebranded in 2012 after partnering with AEG, leading to additional music content development.
HDNet Movies, available in approximately 12m US homes, features theatrically released films and documentaries presented in high definition, including a variety of iconic classics and award winners spanning the 1950s to 2000s.
Details
Date Published: 16/09/2019
Target: HDNet LLC/majority stake
Country: USA
Sector: Media
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Anthem Sports and Entertainment
Comment:
Terms of the deal were not disclosed

Options