Big Talk Productions is the latest in a number of independent producers who have been purchased by ITV plc.
The channel 3 broadcaster and production studio announced earlier today that it had acquired 100% of Big Talk Productions and associated companies.
Big Talk is the producer of award winning programmes such as Friday Night Dinner, Him & Her and Rev as well as films including Shaun of the Dead, Hot Fuzz and The World’s End.
ITV will pay an initial cash consideration and further capped cash payments contingent on Big Talk’s future performance. The initial cash consideration will be dependent on the 2012/13 financial performance and is expected to be in the region of £12.5m. The further capped cash payments are payable on the delivery of significant profit growth over the next five years. The multiple paid is similar to the range paid on our previous acquisitions. – ITV
The UK company is the fourth to be purchased by ITV this year, they have already added three American production companies to their portfolio.
In June ITV – a united Granada and Carlton – took a controlling stake in Thinkfactory Media, a leading US producer of reality, entertainment and drama while in May they took a controlling stake in High Noon Entertainment a leading supplier of reality and entertainment shows for US cable networks and in April they acquired 100% of The Garden Productions.
In the past ITV companies such as TVS and ATV took an interest in American production however in the seventies and eighties TV regulator the IBA disapproved of such ventures.