Grupo Secuoya to merge with New Atlantis
Iñaki Ferreras ©RapidTVNews | 02-04-2012
Spanish producers New Atlantis and Grupo Secuoya have signed an agreement for the integration of both companies through a share swap.
The Board of Directors of Grupo Secuoya have approved the transaction, subject to certain approvals and subsequent ratification by the General Meeting of shareholders. With this strategic agreement Grupo Secuoya hopes to increase its strength in audio-visual content by adding the experience and productive capacity of New Atlantis incorporating as a new business of distribution and production of documentaries.
New Atlantis, which specialises in documentaries and fictional entertainment and high-end digital and high definition, will retains its name and brand value and Jorge Sanchez Gallo remains as head of the company (New Atlantis), and will join the rest of the subsidiaries of Grupo Secuoya content, such as 2blefilo (fiction), Pulse TV (entertainment) and enminúscula (branded content).
During the 2011 financial year, New Atlantis amassed revenues of €6.3 million. The 2012 budget aims to increase its turnover by 15% compared to 2011.