It comes as Deadline understands that the Tom Forman-run company was an acquisition target last year with multiple bidders thought to have expressed interest.
SK Global has acquired the company from Anchorage Capital Group, which backed the formation of Critical Content from the ashes of Ryan Kavanaugh’s Relativity.
It moves SK Global, which was formed in 2016 with the merger of Sidney Kimmel Entertainment and Ivanhoe Pictures and is best known as a film financier and producer, into the non-scripted television arena. The company is currently in production on its Thai cave rescue docuseries for Netflix.
Tom Forman will continue to serve as Chief Executive Officer of Critical Content and Jenny Daly will continue to serve as President of Critical Content following the deal, terms of which were not disclosed.
It comes three years after Critical Content acquired Jenny Daly’s T Group and cut its workforce by 35% following a reorganization.
SK Global was represented in the deal by Eisner LLP and Bryor Media Partners. Anchorage Capital Group was represented by Sheppard Mullin and ACF Investment Bank.
“SK Global is in growth mode, and this acquisition represents the expansion of our content and capabilities with the addition of Critical Content’s unparalleled unscripted expertise,” said SK Global Chairman Sidney Kimmel and Co-Chief Executive Officer John Penotti Tom, Jenny and the Critical Content team have built a powerhouse company that excels in the nonfiction arena and has successfully expanded its business with a wide slate of programming across all major streaming platforms. Critical Content’s prowess in reality series and specials presents the perfect complement to SK Global’s award winning feature film and scripted television business. Our intention is to build the top independent content company at scale, with the ability to tell stories in every format and genre.”
Co-Chief Executive Officer Charlie Corwin added, “Not since my time as Co-Chairman and CEO of Endemol Shine Americas have I seen reality programming in such high demand with audiences and buyers. I believe there is a big opportunity in the reinvention and resurgence of the global format business. In fact, our mission is to create culturally-specific story franchises that are accessible to a global audience through brand extensions. Now with Critical Content, this approach applies to movies and television, scripted and unscripted.”
“We are thrilled that we landed with SK Global, whose business strategy and proven leadership team made it the company best positioned to fuel our expansion into new territories and innovative business opportunities. As we quickly integrate, we look forward to combining forces with Charlie and John in building impactful premium content with SK Global,” added Forman and Daly.