As predicted, Warner Bros is set to buy Brit TV production company Shed Media, maker of such programmes as Supernanny and The Choir, for around £100 million ($159 million) to boost its presence in the key market. Warner Bros, part of Time Warner, says the price represented a premium of around 73% from July 29, the last business day before the start of the offer period. Warner is buying a 56% stake in the company from Shed’s management. WB says it has received undertakings from around 73% of Shed shareholders backing the deal. Shed says the deal will enable it to grow further, with the backing of a large international group. The studio must have wanted Shed badly. Back in June, the talk was of Warner offering £75 million for Shed. Managers were understood to be holding out for £90 million. Shed executives are now set for a windfall. Exec Alex Graham will earn £12 million from the deal, while Shed co-founder Eileen Gallagher could earn £7.5 million. Graham has already made £20 million from selling his independent TV company Wall to Wall to Shed in 2007. Who says you can’t make money from the entertainment business?
By TIM ADLER in London | Thursday, 5 August 2010 13:04 UKTags: Shed Media, Shed Media Deal, Shed Media Finance, Suppernanny, UK TV, Warner Bros, Warner Bros Shed Media, Warner Shed Deal
Get Deadline news and alerts FREE to your inbox...
This article was printed from http://www.deadline.com/2010/08/warner-bros-buys-shed-media-for-159m/
SUBSCRIBE TO DEADLINE NEWS
News/Opinion PollLoading ...
By The Numbers
Box Office PollLoading ...