The Asacha Media Group, a Paris-based production group founded by three former executives of Endemol Shine and Zodiak, acquired a majority stake in British production and distribution company WAG Entertainment for an undisclosed sum.
WAG was established in 1998 and the company includes Science Channels What on earth?Which is in production in its seventh season, Fighting dealers For Discovery Search and UKTV War factories.
As part of the deal, Martin Dorkin, CEO and founder of WAG, will step down at the end of 2021. He will be replaced by Stephen Green, COO, who will become the company’s general manager after a transitional period.
WAG’s latest earnings showed it posted a profit of 7.7 million pounds (10.6 million pounds) in the 12 months to March 2020, up slightly from 7.3 million pounds the previous year. The company has £ 4.6 million in cash in the bank.
Asacha is building a raft of production companies after it was founded last April by Gaspar de Chavagnac, ex-president of Zodiak Media France; Marina Williams, Former Executive Director of the International Endemol Shine Group; And former Zodiak CEO Mark Antoine D. Halloween.
Among the other companies that Asacha has backed is Italy’s Stand By Me, which is currently making a four-part documentary series based on Sharing the wisdom of time, The book written by Pope Francis.
The WAG deal was brokered by media consultancy GothamStreet, with support from NOR Capital.