13 May 2013
ITV ACQUIRES US INDIE HIGH NOON ENTERTAINMENT
ITV plc today announced that it is acquiring a controlling stake in High Noon Entertainment a leading supplier of reality and entertainment shows for US cable networks.
ITV will pay $25.65m upfront for a 60% stake in High Noon Entertainment with a top-up payment in 2015 based on the performance of the Company. There is a put and call option to buy the remainder of High Noon Entertainment which may be exercised after four and six years from the initial deal. The company made an operating profit of $5.7m in 2012 and generated around 80% of its production revenue from returning series.
For further enquiries please contact:
Investor Relations
Pippa Foulds 020 7157 6555 or 07778 031097
Media Relations
Mary Fagan 020 7157 3965 or 07736 786448
Mike Large 020 7157 3021 or 07768 261528
