19th Feb 2014 09:14
LONDON (Alliance News) - ITV PLC said Wednesday that it had acquired a 51% stake in New York-based television producer DiGa Vision, continuing a recent run of production company acquisitions as the British TV company tries to build a portfolio of international content it can show on its channels and, more importantly, sell around the world.
ITV has made an upfront cash payment for the controlling stake, with a put and call option to buy the remainder of the company. The put and call option can be exercised from between 3 and 6 years, with the total amount paid linked to the company's performance.
No financial details of the acquisition were disclosed.
DiGa produces popular drama 'Teen Wolf', which is loosely based on the 1985 film starring Michael J Fox, among other programmes.
ITV has acquired US production companies Gurney Productions, High Noon Entertainment and Thinkfactory Media, as well as UK producers The Garden and Big Talk, over the last 18 months.
Shares in ITV were trading down 0.9% at 208.70 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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