EMG and Gravity Media have announced the completion of a definitive agreement to merge their businesses. The merger creates one of the world's largest broadcast technology and production companies, with a formidable presence across Europe, the Middle East, the United States, and Australia.

The newly formed entity will boast over 100 outside broadcast trucks and flypacks, 40 studios and production facilities, and 30 offices across 12 countries. The combined group will employ 2,000 permanent staff and have access to a global network of freelance personnel.

The group will be helmed by Shaun Gregory, the current CEO of EMG, as its Global Chief Executive Officer. John Newton, Founder, CEO and majority shareholder of Gravity Media, will take on the role of Executive Chairman of the new combined group.

Investment firm, TowerBrook Capital Partners, which currently holds a significant share in Gravity Media, will retain a stake in the combined group. Newton will also maintain his significant interest in the combined entity, with PAI Partners becoming the majority shareholder.

"This is the right time to bring together EMG and Gravity Media to create a truly global production and media services business," Newton said. "This combination will allow us to play an increasingly important role for our customers and our people. Together, the group will offer new products, new services and enter new markets. I look forward to working with Shaun and the broader team to grow this exciting new business."

Gregory echoed Newton's enthusiasm. "This is a pivotal day for the industry, as we bring together two powerhouses to create a truly global business. Both John and I believe this industry needs entities with significant global capability, that are prepared to invest," he said.

"Our vision is to create a world-class business that sets new industry standards and can seamlessly enter and grow new markets. This is a fantastic opportunity, which in turn gives our customers the best solutions and quality they rightly demand. We'll be able to invest in global platforms, end-to-end production and, of course, the best people. We're looking forward to getting started."

The merger follows the satisfaction of regulatory and other required conditions. EMG was advised by Société Générale and Crédit Agricole CIB, while Moelis & Company provided advisory services to Gravity Media on the transaction. Financial terms were not disclosed.