‘Love Is Blind’ Producer Red Arrow Studios No Longer For Sale Amid “Coronavirus Crisis”
German broadcaster ProSiebenSat.1 has canceled the sale of Love Is Blind and Bosch manufacturing group Crimson Arrow Studios because the world is gripped by the coronavirus disaster.
ProSiebenSat.1 has been exploring a sale of Crimson Arrow for six months, with All3Media an AMC rising as two of the almost certainly consumers because the scenario progressed. ProSiebenSat.1 has, nevertheless, at all times maintained that it would select to retain possession of the manufacturing group.
Now, with coronavirus wreaking havoc on the worldwide economic system and TV manufacturing schedules, ProSiebenSat.1 has certainly opted to maintain maintain of its asset, which contains 20 manufacturing corporations together with Kinetic Content material, the studio behind Netflix hit Love Is Blind.
ProSiebenSat.1 mentioned in a press release: “We have now now closed the method for the strategic evaluation of Crimson Arrow Studios as numerous choices we have been evaluating are not viable in a coronavirus disaster setting. We strongly consider within the enterprise. It posted a report 2019. Love is Blind is the smash hit on Netflix to simply title one in every of our nice lineup. We have now an ideal staff. And we’re all in and can stay so.”
ProSiebenSat.1 first put Crimson Arrow Studios up on the market in September as a part of a course of overseen by funding financial institution Morgan Stanley. A call was anticipated on its future final yr, however was pushed into 2020 in December. Crimson Arrow’s valuation was mentioned to have been a sticking level in negotiations, with Reuters suggesting it may very well be as excessive as 250M euros ($278 million).
COPYRIGHT_BP: Published on https://bingepost.com/love-is-blind-producer-red-arrow-studios-no-longer-for-sale-amid-coronavirus-crisis/61638/ by Hilda Workman on 2020-03-14T12:12:37.000Z