Asacha Media Group, the Paris-based manufacturing group based final 12 months by three former Endemol Shine and Zodiak executives, has acquired a majority stake in British manufacturing and distribution firm WAG Entertainment for an undisclosed quantity.
WAG was established in 1998 and the corporate’s slate consists of Science Channel’s What On Earth?, which is in manufacturing on its seventh season, Fight Sellers for Discovery’s Quest, and UKTV’s Struggle Factories.
As a part of the deal, WAG CEO and founder Martin Durkin will step down on the finish of 2021. He shall be changed by COO Steven Inexperienced, who will grow to be the agency’s managing director following a transition interval.
WAG’s most up-to-date earnings confirmed it posted a revenue of £7.7 million (£10.6M) within the 12 months to March 2020, up marginally on £7.3M the 12 months earlier than. The agency has £4.6M of money in hand on the financial institution.
Asacha is constructing a portfolio of manufacturing corporations after being founded last April by Gaspard de Chavagnac, the previous Zodiak Media France boss; ex-Endemol Shine Group worldwide COO Marina Williams; and former Zodiak CEO Marc Antoine d’Halluin.
Different corporations backed by Asacha embody Italy’s Stand By Me, which is currently making a four-part documentary sequence primarily based on Sharing The Knowledge Of Time, the e-book written by Pope Francis.
The WAG deal was brokered by media advisory agency GothamStreet, with help offered by NOR Capital.