You will be redirected back to your article in seconds

New World reportedly buys up Genesis

New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment.

Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 million in cash.

New World earlier paid $ 15 million for a 50% stake in Genesis, whose properties include the firstrun series “Real Stories of the Highway Patrol.”

There has been speculation the price for the remaining half of Genesis increased because “Highway Patrol” has enjoyed some success in the syndication market.

If the deal is completed, Genesis chairman-CEO Gary Gannaway is expected to report to New World CEO William Bevins.

More Biz

  • Stranger Things Season 2

    Netflix Plans to Raise Another $1.5 Billion in Debt Financing for Original Content

    New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment. Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 […]

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment. Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment. Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment. Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 […]

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment. Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    New World Communications Group, which last week began trading as a publicly held company, has reportedly concluded a long-rumored deal to buy the remaining 50% of syndicator Genesis Entertainment. Officials from both companies declined comment, but a source disputed the reported sales figure –$ 24 million in New World stock and more than $ 10 […]

More From Our Brands

Access exclusive content