Silverman company shifts strategy to ownership model
Electus has acquired Mannahatta Prods., marking a shift in strategy for Ben Silverman’s next-generation studio.
While Electus has struck mostly overall deals with production companies from DiGa to 5×5 Media in order to service clients, Mannahatta marks the first pact in which it will take ownership of the company.
“It’s key to transform the deal model so that Electus is known for owning companies underneath our studio banner as we look to scale up,” said Electus CEO Chris Grant, who counts Mannahatta as his first transaction since coming aboard the company last November.
Led by Tim Puntillo, Mannahatta is best known for unscripted series including NBC’s “Minute to Win It” and Style’s “Ruby.” Mannahatta will be replaced with a new entity that Puntillo will oversee.
Puntillo first got to know Grant and Silverman when they were at their previous company, Reveille, and Mannahatta produced NBC’s “Identity,” which Reveille resold in 25 countries.
“He is a capable showrunner with an entrepreneurial spirit and a global approach to the marketplace,” Grant said.
“I am excited to join Electus, to not only have the backing of an incredibly strong company with strong ties to foreign markets and deep relationships with advertisers, but to be surrounded by some of the most creative and talented people in the business,” Puntillo said.
Evolution Media Capital and Sean Marks of Myman Greenspan Fineman Fox Rosenberg & Light negotiated the deal on behalf of Puntillo, who is represented by CAA.
Electus also tapped Justin Dudek as executive in charge of production and Allison Kaz as head of casting and talent. They served in similar roles at Angel City Factory and 3 Ball Prods., respectively.