Time Warner pays £100m for Shed
Shed Media has agreed to a £100m takeover deal from Time Warner in a move which will make millionaires of the businesses directors as the US media giant seeks to upscale its British operations.
The acquisition follows a spate of consolidation in the media industry with a number of independent television producers, including RDF Media and Carnival, being snapped up by foreign operators.
British television has been a commercial success in recent years with the UK ranked number one in global format sales, taking more than half of the £3.3bn market.
Shed is most famous for producing hit shows such as Footballers Wives and Who Do You Think You Are?