Gravity Media Group Ltd. agreed to acquire Chief Entertainment Pty. Ltd., an Australia-based provider of live studio and production services, from Telstra Corp. Ltd.
The transaction is expected to close by the end of August, subject to certain conditions.
Gravity Media Group, a U.K.-based provider of live broadcast facilities and production services, currently operates in Australia under the Gearhouse Broadcast Ltd., Hyperactive Broadcast Ltd. and Input Media brands. The acquisition of Chief Entertainment will complement the existing Input Media production centers in the U.K. as well as its Melbourne production and Sydney post-production facilities, according to an Aug. 19 news release.
Following the completion of the deal, Chief Entertainment will continue to operate under its existing name and branding until it is fully integrated with Gravity Media's Australia operations.
Chief Entertainment CEO Hamish Cameron will step down from that role, though he will continue to work with Gravity Media as it integrates the businesses.
