9th May 2007 08:28
ITV PLC09 May 2007 May 8, 2007 For immediate release ITV PLC ACQUIRES CONTROLLING STAKE IN JAFFE/BRAUNSTEIN ENTERTAINMENT LLC ITV plc today announced that it has bought a controlling 51% stake in a newentity, Jaffe/Braunstein Entertainment LLC, created in partnership with JaffeBraunstein Films LLC, a producer of scripted telefilms and mini-series based inLos Angeles. The stake was acquired for a cash sum of $5.8 million (£2.9million) from Howard Braunstein, and Michael Jaffe who, between them, willretain a 49% stake in the new entity. ITV plc's stake will be managed through Granada America, the U.S. basedproduction entity of ITV plc. In addition to developing and producing neworiginal programming, the new partnership will focus on remaking titles from theextensive ITV film and television library. David Gyngell, Chief Executive Officer of Granada America said: "Jaffe/Braunstein Films is the class leader in the long form production business with asuccessful track record spanning more than two decades. Our investment into, andpartnership with, Howard and Michael means we can combine forces in what is analready extremely competitive market. As part of our overall growth strategy,this deal is a signal that Granada America is serious about building itspresence in scripted television in US." Ends. Notes to Editors: Granada America Programming from Granada America that has been produced, aired or scheduled toair in US totals more than 200 hours including movies for television, drama,nature and non-scripted. Howard Braunstein and Michael Jaffe Mr. Jaffe and Mr. Braunstein are among the most prolific long form producersover the past several decades. Their credits include Elvis, the Emmy nominatedmini-series and Golden Globe winner for Jonathan Rhys-Meyers as the rock-n-rolllegend; the 10.5 earthquake mini-series and its sequel; First Do No Harmstarring Meryl Streep; Ice Bound, starring Susan Sarandon; Rodgers &Hammerstein's South Pacific, starring Glenn Close; as well as The Rosa ParksStory, which won the NAACP Image Award for outstanding television movie ordramatic special and which earned Angela Bassett an Emmy(R) nomination. Mr.Jaffe and Mr. Braunstein also produced the A&E series 100 Centre Street,starring Alan Arkin and executive-produced by Sidney Lumet, and Nero Wolfe,starring Timothy Hutton. For further enquiries please contact: ITV plcTel: 020 7843 8000Press enquiriesBrigitte Trafford - Group Communications DirectorJim Godfrey - Director of Corporate Affairs Investor enquiriesJames Tibbitts - Company SecretaryGeorgina Blackburn - Head of Investor Relations Website: www.itv.com; investor information: www.itvplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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