ITV PLC
09 May 2007
May 8, 2007
For immediate release
ITV PLC ACQUIRES CONTROLLING STAKE IN
JAFFE/BRAUNSTEIN ENTERTAINMENT LLC
ITV plc today announced that it has bought a controlling 51% stake in a new
entity, Jaffe/Braunstein Entertainment LLC, created in partnership with Jaffe
Braunstein Films LLC, a producer of scripted telefilms and mini-series based in
Los Angeles. The stake was acquired for a cash sum of $5.8 million (£2.9
million) from Howard Braunstein, and Michael Jaffe who, between them, will
retain a 49% stake in the new entity.
ITV plc's stake will be managed through Granada America, the U.S. based
production entity of ITV plc. In addition to developing and producing new
original programming, the new partnership will focus on remaking titles from the
extensive ITV film and television library.
David Gyngell, Chief Executive Officer of Granada America said: 'Jaffe/
Braunstein Films is the class leader in the long form production business with a
successful track record spanning more than two decades. Our investment into, and
partnership with, Howard and Michael means we can combine forces in what is an
already extremely competitive market. As part of our overall growth strategy,
this deal is a signal that Granada America is serious about building its
presence in scripted television in US.'
Ends.
Notes to Editors:
Granada America
Programming from Granada America that has been produced, aired or scheduled to
air in US totals more than 200 hours including movies for television, drama,
nature and non-scripted.
Howard Braunstein and Michael Jaffe
Mr. Jaffe and Mr. Braunstein are among the most prolific long form producers
over the past several decades. Their credits include Elvis, the Emmy nominated
mini-series and Golden Globe winner for Jonathan Rhys-Meyers as the rock-n-roll
legend; the 10.5 earthquake mini-series and its sequel; First Do No Harm
starring Meryl Streep; Ice Bound, starring Susan Sarandon; Rodgers &
Hammerstein's South Pacific, starring Glenn Close; as well as The Rosa Parks
Story, which won the NAACP Image Award for outstanding television movie or
dramatic special and which earned Angela Bassett an Emmy(R) nomination. Mr.
Jaffe and Mr. Braunstein also produced the A&E series 100 Centre Street,
starring Alan Arkin and executive-produced by Sidney Lumet, and Nero Wolfe,
starring Timothy Hutton.
For further enquiries please contact:
ITV plc
Tel: 020 7843 8000
Press enquiries
Brigitte Trafford - Group Communications Director
Jim Godfrey - Director of Corporate Affairs
Investor enquiries
James Tibbitts - Company Secretary
Georgina Blackburn - Head of Investor Relations
Website: www.itv.com; investor information: www.itvplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.