Just before the holiday, VideoInk ran a report that Gunpowder&Sky was in discussions with Supergravity, a production company it had invested in via Otter Media in Summer of 2015. Gunpowder&Sky has announced the deal is finalized, with SUPERGRAVITY’s founders Marc Hustvedt and Max Benator stepping out of executive into production roles. Sources close to the deal note this will not be in a full-time capacity.
According to our previous story, SUPERGRAVITY had been seeking investment from various outside parties, and even had a funding deal on the table with French telco Orange, as well as ITV, according to one source close to the founders. The deal marks a soft landing for Supergravity, which could have faced a cold reality of shutting down shop, despite a handful of successful projects, including award-winner “Gayby Baby,” the #1 LGBT documentary on iTunes.
For Gunpowder&Sky founder and President Floris Bauer, acquiring the remaining shares in SUPERGRAVITY was an obvious next step for the production business. “Since making the investment, SUPERGRAVITY has made great progress; building the team, developing, selling and producing more series and films, and launching Antigravity, their marketing arm,” he said, adding that “adding SUPERGRAVITY’s team, talent relationships and pipeline” to Gunpowder’s existing in-house development “will help diversify [its] films and series output.”
Gunpowder&Sky has been active on acquisitions that fulfill Bauer’s vision of building the new generation of studio that owns IP, distribution and licensing channels, as well as marketing and promotions. As part of that agenda, the company has acquired or made strategic investments in FilmBuff (renamed Gunpowder & Sky Distribution), production company Cut, and video marketing biz Shareability. It’s also launched two vertical channels — “Dust” and “WeatherFrom.”
As part of Benator and Hustvedt’s role reduction, they will stay on the projects they currently have in production including Gunpowder’s full-length feature entitled Skate or Die, written and directed by Jerome Sable and Nick Musurca and Team Nocuous, a series about the world of competitive video gaming in conjunction with the Fine Brothers, Mad Cow Productions and Third String Kicker.
As a production company, SUPERGRAVITY has additional unannounced projects in the works with the various buyers, according to a release.