In yet another acquisition of a U.S. production company, the UK’s ITV has taken a controlling stake in DiGa Vision. The New York-based indie produces reality and scripted programming including MTV’s Teen Wolf. ITV is paying cash for 51% of the company with a put and call option to acquire the remainder in three to six years. In keeping with its typical acquisition strategy, ITV would pay an amount linked to the performance of DiGa over the period. ITV did not provide detailed financials. DiGa was launched in 2011 by former MTV executives Tony DiSanto and Liz Gateley. Along with Teen Wolf, the slate includes MTV’s Girl Get Your Mind Right and Ke$ha: Crazy Beautiful Life. Auction-based format Celebrity Home Raiders will air on Lifetime in March. Paul Buccieri, president and CEO, ITV Studios U.S. Group, said, “Tony and Liz have an excellent track record in creating original, engaging and compelling reality and scripted programming with an impressive content pipeline which feeds into numerous networks. They’re a true creative force and will be a great addition to the ITV Studios US Group of companies. In the last 18 months, ITV has acquired controlling stakes in Gurney Productions, High Noon Entertainment and Thinkfactory Media in the U.S. as well as UK producers The Garden and Big Talk.
By NANCY TARTAGLIONE, International Editor | Wednesday, 19 February 2014 09:22 UKTags: Big Deals TV, DiGa Vision, ITV, Teen Wolf
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This article was printed from http://www.deadline.com/2014/02/itv-takes-controlling-stake-in-teen-wolf-producer-diga-vision/
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