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
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