The studio’s TV arm has completed its acquisition of one of the UK’s largest independent producers. Warner wanted Shed Media, which makes Supernanny for America, because it wants to expand overseas, replicating the success it has had in America with shows such as The Wire and Gossip Girl – both of which have exported well. Shed will remain an independent producer. Outright Distribution, its TV sales company, will be folded into UK-based Warner Bros International Television Production. But the Outright brand will remain without any job losses.
Warner Bros has signed an exclusive deal with John de Mol’s Talpa Media to produce British versions of the Dutch company’s TV shows. The deal is the latest piece in the jigsaw of Warner’s plan to establish worldwide production subsidiaries developing local versions of hit shows. Talpa’s best-known formats are Dating in the Dark, which has been sold to 20 territories already, and Divided, picked up by 13 territories. Both Dating in the Dark and Divided have already been sold to the UK. The Dutch company has set up co-production deals with other partners in the US, Australia, New Zealand, Denmark, Norway, Finland and Sweden. Ronald Goes, the head of Warner Bros’ international TV production arm, used to be CEO of Talpa prior to joining the studio in summer 2010.
The studio’s TV business is buying 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 this key market. That deal is expected to complete in October.
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?