all3media CEO to Depart Following Discovery/Liberty Global Purchase

LONDON: Discovery Communications and Liberty Global have finalized their joint acquisition of all3media, whose CEO, Farah Ramzan Golant, is stepping down.

Back in May, Discovery and Liberty Global formed a JV to acquire all3media, with the view to preserve its creative autonomy while providing strategic guidance and investment to support its growth globally.

Golant has decided to exit the company. A global search for a new CEO will begin immediately. Jane Turton, the current COO, has been promoted to managing director of all3media and will oversee the transition period. Neil Bright will continue in his role as CFO.

Co-founders of all3media Steve Morrison, Jules Burns and David Liddiment are retiring from the company’s board of directors. Morrison will serve as a special advisor to the joint venture’s board of directors, which will have equal representation from Discovery Communications and Liberty Global.  

“all3media is a production powerhouse, with a unique ability to attract, foster and retain some of the best creative minds in the business. For nearly 30 years, Discovery has invested in high-quality content and today’s deal furthers that commitment,” said David Zaslav, the president and CEO of Discovery Communications. “Discovery has a proven track record of nurturing creativity and building scale across the world. Working with our valued partner Liberty Global, we will focus on empowering all3media to continue innovating and delivering even greater stand-out content to its clients and partners across the globe.”
 
Mike Fries, the CEO of Liberty Global, said, “We are excited to be closing the acquisition of all3media. The business, which produces content for some of our biggest markets in Europe, including the U.K., Germany and the Netherlands, is a natural fit for us and our strategy for content. Discovery is the perfect partner, too, as they not only commission all3media content already, but also share our ambition to create compelling, localized content for domestic markets. Together, we will seek to preserve all3media’s creative independence and support its management to further grow this strong creative business.”
 
“Having successfully completed the sale of all3media to Discovery Communications and Liberty Global, I have determined that this is the right time to leave the company to pursue a new challenge,” said Golant. “I was appointed as CEO to set the business on a new course for growth and to achieve a successful sale to strategic owners. Once accomplished, I agreed to remain as CEO through the transition of ownership to completion. In my tenure at all3media, it has been a pleasure to work with the talented people across the group who are making ground-breaking content that finds strong audiences around the world. I know that all3media is poised for a new period of great creative achievement, and I wish them every success.”
 
Morrison, chairman and co-founder of all3media, said, “Alongside Discovery and Liberty Global, I would like to express thanks to the all3media founders, the management team and Permira for stewarding the business to the successful completion of this transaction. I would also like to thank Farah for her energetic leadership and wish her well in her next endeavor. Congratulations to every member of the all3 staff for helping to build such a fantastic, creative and commercial business. I am extremely proud of the work we’ve done together and confident we are leaving all3media in incredibly capable hands.”