Munich/Los Angeles – Red Arrow Entertainment Group has closed a commercial and creative partnership with the newly founded US production company 10Fold. Based in Los Angeles, 10Fold is focused on both non-scripted and scripted content and boasts both active productions and a large slate of market-ready developments across numerous genres. The deal also includes a future option for Red Arrow to acquire a majority equity position in 10Fold.
10Fold is owned by Emmy-winning producers Craig Armstrong and Rick Ringbakk, who have more than 45 years of combined experience in the entertainment industry. Armstrong and Ringbakk have produced multiple hit non-scripted and scripted TV shows for major US networks, including ABC, CBS, NBC, FOX, TNT and TBS across a variety of entertainment genres. Prior to founding 10Fold, Armstrong and Ringbakk served as Co-CEOs of the production company 5×5, where they created and executive produced numerous highly acclaimed shows including “Fashion Star” (NBC), “Bet on Your Baby” (ABC), “King of the Nerds” (TBS) and “The Hero” (TNT) with Dwayne “The Rock” Johnson. In addition to their active productions and large development slate, the company also owns IP created during the founders’ time at 5×5.
The deal will broaden Red Arrow’s content slate as well as the Group’s scale and breadth in both the US and global TV market, and expand the number of A-List producers and management executives working across Red Arrow’s portfolio of productions and production companies.
Jan Frouman, Chairman & CEO of Red Arrow Entertainment Group, said: “We are always on the hunt for proven creators – especially those with a demonstrated ability to successfully build and run a production company. Craig and Rick are well established on all counts. They will build on our format output, be great partners throughout the Group, and know how to manage the nuts and bolts of the business. We take a lot of pride in the fact that they decided to anchor their new company to Red Arrow.”
Rick Ringbakk, Co-Founder and Co-CEO of 10Fold, said: “We love creating formats and telling stories that can work all over the world and Red Arrow is the perfect partner to help us do just that. They have a great network of companies, and a phenomenal track record. Most importantly, Jan and his amazing team have shown a real passion for helping a good idea reach its potential.”
Craig Armstrong, Co-Founder and Co-CEO of 10Fold, added: “We are very excited to be charting our next adventure with Red Arrow. Jan and his team have been flawless and we can’t wait to see where this partnership takes us all.”
10Fold was advised by Hayden Meyer (APA) and Bill Abrahms (Abrahms, Garfinkel, Margolis, Bergson, LLP). Red Arrow was advised by Stella Capital Advisors and Milbank.