ITV buys 65 per cent stake in third US production company in six months, Thinkfactory Media
ITV has bught a 65 per cent stake in US production company Thinkfactory media for a sum of $30m (£19m), following acquisitions of High Noon Entertainment and Gurney in the last six months.
Acquisition: ITV now has a 65 per cent stake in Thinkfactory Media
The deal leaves an option to by the remaining 35 per cent in three to five years, with the cost of acquiring the rest to be linked to the company's performance.
Thinkfactory was founded in 1992 by Leslie Greif, who will carry on as CEO of the company and report to MD of ITV Studios International and CEO of ITV Studios America Paul Buccieri.
The company makes shows for US cable channels such as R&B Divas, Marriage Bootcamp, Texas Rangers and Kevin Costner drama Hatfields & McCoys.
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