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Mergers and Acquisitions ITV

ITV acquires controlling interest in Leftfield Entertainment Group

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By Ishbel Macleod, PR and social media consultant

May 7, 2014 | 1 min read

ITV has acquired a majority interest in Leftfield Entertainment Group, a US independent producer of reality programmes.

The broadcaster will make an initial cash payment of $360m for 80 per cent of Leftfield, with further payments dependent on profit growths in the company.

Adam Crozier, CEO of ITV, said: "Leftfield is a fantastic success story, rapidly growing from a single pilot to become one of the biggest indies in the US.

"The team has combined creativity with strong production expertise, with over 70 per cent of the business coming from returning series and a pipeline of new ideas coming through in 2014 and into 2015 that is really encouraging.”

Brent Montgomery will remain CEO of Leftfield Entertainment Group under ITV's ownership.

He added: "This is an incredibly exciting time at Leftfield, as our agreement with ITV marks a major milestone in the company's evolution and I am looking forward to working with them for the next five years and beyond.”

ITV has stated that the acquisition will complement its existing creative capability.

Mergers and Acquisitions ITV

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