Greece-based broadcaster Antenna Group has entered into a wide-ranging strategic partnership with media-focused merchant bank The Raine Group.
The venture will see the pair explore joint initiatives to “pursue growth opportunities in new entertainment formats, emerging technology platforms, content rights and production assets”. Antenna will also become US-based Raine’s strategic partner in Europe.
This closely follows the appointment of former Cineflix Studios and NBCUniversal International chief Pete Smith as Antenna’s managing director. It also comes after Antenna’s acquisition of Kiss TV and several radio stations from ProSieben and agreements involving free-to-air channels PRVA Televizija in Serbia, PRVA in Montenegro and Planet TV in Slovenia.
Today’s deal sees Antenna becoming a shareholder in Raine Group and Antenna CEO Theodore Kryriakou joining the Raine board of directors.
Kyriakou said: “Antenna has created significant value in the media industry, by managing and investing in a portfolio of broadcast networks, digital platforms and content production. Our operational and financial expertise, together with Raine’s powerful deal-making skills, will enable us to explore investment opportunities in existing as well as new markets.”
Joe Ravitch and Jeff Sine, co-founders of Raine, added: “Raine is keen to build on our strong network and we believe Antenna’s geographic and operational expertise will be a strong complement to our existing partners.”