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ITV Acquires THINKFACTORY MEDIA

Released 08:15 19-Jun-2013

RNS Number : 3419H
ITV PLC
19 June 2013
 



19 June 2013

 

 

ITV ACQUIRES US PRODUCTION COMPANY THINKFACTORY MEDIA

 

ITV plc announced today that it is acquiring a controlling stake in Thinkfactory Media, a leading US producer of reality, entertainment and drama, including the Emmy award-winning Hatfields & McCoys.

 

ITV will pay an upfront cash consideration of $30m for a 65% stake in Thinkfactory Media, with a put and call option to buy the remaining 35% of the company. The put and call option could be exercised from between 3 years after the initial deal and at the end of year 5 with the total amount paid linked to the performance of the company over that period.  The multiple paid is similar to the range paid on our previous acquisitions.

 

 

ENDS

 

For further enquiries please contact:

 

Investor Relations:  Pippa Foulds  +44 20 715 76555 or +44 7778 031097 

 

Media Relations:       Mary Fagan  +44 20 715 73965 or +44 7736 786448

                                    Mike Large  +44 20 715 73021 or +44 7768 261528

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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ITV Acquires THINKFACTORY MEDIA - RNS