OTRO Studios has been acquired by Element Media Group, a subsidiary of holding company Element Global.
The content creation and production studio, which was launched in 2018 with the backing of the likes of Lionel Messi and David Beckham, has been renamed Element Studios UK as a result of the takeover.
The news comes after Aser Ventures became an OTRO Studios shareholder as part of a strategic partnership with US investment fund Corrum Capital Management. Despite the move, CEO Claire McArdle will remain in her role.
“Element Studios UK has a unique opportunity to become the go-to studio for sports entertainment programming for both talent and buyers,” said John LaViolette, Co-CEO of Element Global.
“In addition, we see meaningful synergies and opportunities to accelerate the company’s growth. We are also very excited to be able to work with and support newly appointed CEO Claire McArdle and their top-tier, multi award-winning management team. We look forward to being able to tap into their wealth of international programming, content and production experience.”
McArdle added: “We are thrilled to be a part of the Element Media Group team.”
“We believe that this is a great outcome and will position us for significant future growth. The Element team really understands our vision for the future and will help us bring sports programming alive through the lens of entertainment.”
Element Global is a holding company with interests centered on media and production, as well as developing sports franchises, emerging technology, renewable energy, and mining and processing of electric base metals.