Telstra divests Chief Entertainment to UK broadcast company

Telstra divests Chief Entertainment to UK broadcast company

UK-based Gravity Media has acquired Australian live studio and production services business Chief Entertainment from Telstra (ASX: TLS).

Gravity Media already operates in Australia under the Gearhouse Broadcast, HyperActive Broadcast and Input Media brands, and hopes the acquisition of Chief Entertainment will completement this suite of companies.

Chief Entertainment is based in Artarmon on Sydney's north shore and employees 50 staff in production services and digital media delivery services for TV networks, sporting federations, entertainment franchises, agencies and commercial brands.

The company greatly benefits from its former parent Telstra's fibre connectivity that allows it to send and receive content from its base at a high speed.

Chief Entertainment will continue to operate under its existing name until it can be fully integrated with Gravity Media's Australian operations.

The acquisition is the fifth such transaction for the UK based Gravity Media since receiving investment from TowerBrook Capital Partners in 2016.

It follows the purchases of Australian companies Input Media and Stranger Designs in 2017, and Germany-based Genesis Broadcast Services and North American-based Proshow Broadcast in 2018.

"We are delighted to welcome Chief Entertainment to the Gravity Media family," says founder and CEO of Gravity Media John Newton.

"Our Gearhouse Broadcast and Input Media businesses have worked with Chief Entertainment for many years and we see it as a natural fit with our existing businesses in Australia."

"We look forward to working with our new colleagues at Chief Entertainment to continue to grow our content production capabilities and deliver enhanced services to our clients."

Chief Entertainment CEO Hamish Cameron will step down from his role as a result of the acquisition, but will continue to be involved with the integration of the business into Gravity Media.

Chief Entertainment COO Scott Kinlyside will manage and grow the business as it is integrated into Gravity Media's operations within Australia and internationally.

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