Yahoo Finance France’s Newen Studios Buys Majority Stake in U.S. Television Banner Johnson Production Group
Aiming to ramp up its presence in English language markets, French group Newen Studios has acquired a majority stake in U.S. TV banner Johnson Production Group.
Newen, which is owned by leading French network group TF1, said the acquisition was part of its strategy to develop and acquire global IP’s. The outfit mainly owns production labels in Europe and has had a footprint in North America through its acquisition of Reel One in 2019.
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Johnson Production Group will continue being led by its founder and president Timothy O. Johnson. Created in 1992, the company is known for packaging, financing and distributing over 40 movies each year across different genres, including thriller, action and romantic comedy, drama). Notable credits include “Christmas at Pemberley Manor,” “Love on the Slopes,” “Falling in Niagara,” “Hotwired in Suburbia,” and “Noel Next Door.”
Pierre Branco, who recently joined Newen Studios as CEO after leading Warner Bros. France, said “the signing of the agreement for the acquisition marks a new step in the group’s development and its international expansion.”
“With Reel One and now JPG, we are becoming one of the world leaders in the production and distribution of TV movies while strengthening our privileged access to the North American market,” he continued.
Johnson, meanwhile, said “Newen is the perfect strategic partner for our organization going forward in this dynamic marketplace. This will enable JPG and its partners to super service its clients delivering the best TV movies worldwide with the solid support of financing, distribution and massive scale Newen provides.”
The U.S. outfit reports that it has so far been involved in the production of over 3000 hours of network television, with over $1 billion spent on production.
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