ProSiebenSat.1 put Red Arrow Studios up for sale in September as part of a process overseen by investment bank Morgan Stanley. Sources told Deadline in November that the company would decide by the middle of December whether to keep or dispose of the production group behind shows including Amazon drama Bosch.
Following talks this week, ProSiebenSat.1 has now decided to postpone the decision until the first quarter of next year, with one source suggesting that Red Arrow’s valuation has been a sticking point in the negotiations. Reuters reported this week that Red Arrow’s asking price was 250M euros ($278 million).
Red Arrow owns 20 production companies, including Bosch producer Fabrik Entertainment and The Circus producer Left/Right in the U.S. In the UK, Red Arrow boasts CPL Productions, which is currently making CBS show Game On!, and Endor Productions, the drama producer behind BBC Two’s Vienna Blood, which was picked up by PBS this week.
Germany’s Manager Magazin first reported ProSiebenSat.1’s decision to postpone.