3rd Dec 2015 14:07
LONDON (Alliance News) - ITV PLC said Thursday that it has appointed Brent Montgomery, currently chief executive officer of Leftfield Entertainment Group, as chief executive officer of ITV America.
ITV acquired an 80% stake in independent producer Leftfield Entertainment in May 2014 for USD360 million. As part of the appointment Thursday ITV has said it has accelerated the acquisition of the remaining 20% stake in the company owned by Montgomery.
ITV will not pay a cash consideration for the remaining stake at this stage, however, it said the maximum consideration payable including the assumed obligations of the business is USD100 million.
Shares in ITV were down 0.5% at 271.20 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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