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Night Train Sells Media Stakes to Serafin Group
19 Mar
Summary
- Night Train Media sold its stakes in Curve Media, BossaNova Media, and Eccho Rights.
- Serafin Group is now the main shareholder in these three European media companies.
- Night Train will now focus on co-production and co-financing for scripted content.
Herbert L. Kloiber's Night Train Media has completed the sale of its stakes in Curve Media, BossaNova Media, and Eccho Rights to Germany's Serafin Group. Serafin now holds the main shareholder position in these three European entities, with their leadership reporting to the Munich-based company. Christoph Auer has been appointed interim CEO of the acquired businesses.
The deal between Night Train and Serafin was finalized recently, with the companies operating under new ownership for several weeks. Notably, Serafin will maintain a 50% investment in Night Train itself. This allows Night Train to re-focus its strategy, intending to increase its involvement in co-production and co-financing of high-end scripted television series and films.
Night Train, launched in 2020, had previously acquired significant stakes in Curve, Eccho Rights, and BossaNova Media with the aim of building a European production and sales group. However, perceived synergies between the companies did not fully materialize, prompting this change in direction.
Eccho Rights, known for its library of 25,000 hours and Turkish dramas like 'Golden Boy,' is expected to shift its investment strategy away from English-language scripted content. Curve is recognized for unscripted series, while BossaNova distributes various unscripted shows. The sale marks a division of a consolidated group amidst a year of significant mergers and acquisitions in the media industry.
