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- Thursday, Feb. 13, 2020
Cast & Crew reaches agreeement to buy Media Services
- BURBANK, Calif.
Cast & Crew, which provides payroll and human resources, accounting and financial, and workflow and productivity software and services to the entertainment industry, has signed a definitive agreement to purchase Media Services, a payroll and production management solutions company servicing film, television, digital streaming and commercials. This transaction--terms of which were not disclosed--brings together two companies with the shared mission of digitizing, automating, and simplifying the experience of creating entertainment content.
Media Services has been providing payroll and production management solutions to the entertainment industry for more than 40 years. Its software offerings, including digital payroll tools, accounting solutions, and its flagship Showbiz suite of products help content creators streamline a broad range of production processes. The company is based in Los Angeles, with a regional office in New York.
“Media Services is a great fit for Cast & Crew,” said Eric Belcher, CEO of Cast & Crew. “We are well-aligned in our shared values, complementary strategies, compatible technology portfolios and consistent corporate cultures. As a combined company, we will continue to strive to deliver best-in-class products and services to our clients, and believe that existing clients of both companies will benefit from the combined experience, products, and services that each company has honed over the past several decades.”
Media Services will continue to operate as a distinct brand under the leadership of Barry Oberman, its CEO, who will report directly to Belcher. “The need for future-facing, end-to-end workforce management solutions is surging in the content creation space,” added Oberman. “We are thrilled to join Cast & Crew and its family of well-recognized brands, to continue building on those solutions for a growing variety of markets together. Cast & Crew is committed to top technologies with client-forward service, making this an ideal alignment for us. We look forward to integrating with their team.”
Cast & Crew was supported in this transaction by EQT, its parent company. “The addition of a strong brand like Media Services will add to Cast & Crew’s solid platform and help to enhance and expand the scope of the products and services that we collectively offer to our clients,” said Kasper Knokgaard, partner of EQT. “We are pleased to see this sustained momentum in the expansion and diversification of the Cast & Crew portfolio.”
Cast & Crew was represented by the law firm of Latham & Watkins, LLP and Media Services was represented by the law firm of Sheppard Mullin LLP. Moelis & Company LLC acted as exclusive financial adviser to Media Services.