Gravitas Ventures said Friday that Nolan Gallagher, who founded the indie distributor in Los Angeles in 2006, will be stepping down as CEO and leaving March 31 to focus on soccer team ownership in Cleveland.
The news was revealed by Anthem Sports & Entertainment, which acquired Gravitas Ventures in November 2021 and owns a range of entertainment properties including AXS-TV, HD Net Movies, Fight Network and IMPACT Wrestling.
Under Nolan’s leadership, Gravitas became a global all-rights theatrical distribution company that released more than 3,000 films on VOD, winning recognition from the Film Independent Spirit Awards, the Academy of Motion Pictures Arts & Sciences and numerous film festivals.
In 2019, co-owners Gallagher, Michael Murphy and Brendan Gallagher moved Gravitas Ventures to Cleveland to further economic momentum for media & entertainment in their hometown. To continue that economic impact, Nolan Gallagher and Murphy recently announced they were awarded ownership of a Major League Soccer Next pro men’s soccer team that will begin play in 2025.
“I and by extension Gravitas have been so fortunate to have collaborated with so many talented directors, producers, actors, and media executive over the last 17 years,” said Nolan Gallagher. “To have had a front-row seat and active hand in the birth, growth, and maturation of how audiences enjoy compelling stories on video on demand has been personally and professionally rewarding. I am thankful to the entire Gravitas team past and especially present and wish them and Len Asper and Anthem Sports & Entertainment continued success in the years to come. The time is right to focus efforts on my next chapter, which is launching a brand-new professional men’s and hopefully soon professional women’s soccer team that will make the Cleveland community proud on and off the field.”
Said Asper, Anthem’s CEO: “We thank Nolan for his leadership at Gravitas and wish him well as he starts his next entrepreneurial journey in his hometown. In the last year Nolan has worked closely with the Anthem executive team to hire and promote from within the next chapter of Gravitas’ leadership and to help ensure Gravitas’s filmmakers, producers and stakeholders continue to receive world class service. We are working with Nolan and have retained an advisor to identify a successor to lead the excellent senior team at Gravitas and expect to make a decision within the coming months.”
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