22nd May 2014 12:15
LONDON (Alliance News) - DCD Media PLC said Thursday its subsidiary, September Films Ltd, has won a commission to co-produce a new primetime version of a comedy game show series on ITV with GroupM Entertainment
The independent television producer said the game show series, Celebrity Squares, will generate revenue of GBP2.2 million for DCD Media and will be aired later in the summer.
DCD Media shareholder Timeweave Ltd is providing September Films with a short term GBP2.4 million unsecured loan to fund the production and recoverable VAT, to be repaid by August 11, 2014. A total of GBP70,000 will be charged in interest, arrangement fees and costs.
Celebrity Squares is a format of the comedy game show Hollywood Squares from CBS Studios International and is based on the classic noughts and crosses, paired with a panel of celebrities. The show will be hosted by Warwick Davies.
The company has also won a tender to represent the Open University programming catalogue in global markets through its Rights management arm, DCD Rights. The deal would boost DCD Rights' portfolio with more than 188 hours of BBC-produced, factual content as well as a further 40 hours of new programming over a two year period.
While encouraged by the new contract wins, DCD Media CEO David Craven said "we still anticipate a few hurdles before we transition to a robust business."
Shares in DCD Media were trading up 3.85% at 405 pence per share Thursday afternoon.
By Alice Attwood; [email protected]; @AliceAtAlliance
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