Shed Media shares soar on takeover talks
Warner Bros Entertainment has confirmed that they’re in talks to buy Shed Media, the AIM listed television Production Company responsible for Footballers Wives and Waterloo Road.
It is reported that the American media giant wants to add Shed to its UK production unit to tap into new international markets following the success of hit US shows such as Gossip Girl.
To achieve this Warner Bros are expected to pay up to £75m for Shed, news which sent shares in the firm soaring 7.1%. The company is currently valued at just under £72m.
Shed was founded by Scots Eileen Gallagher and Ann McManus in 1998, they are expected to remain active in the business as part of any deal.