ITV Acquires THINKFACTORY MEDIA

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  [phone] or [phone] 

Media Relations:       Mary Fagan  [phone] or [phone]

                                    Mike Large  [phone] or [phone]

 

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