Wednesday , 22 May 2019
Breaking News
ITV buys Talpa for EUR 500 mln cash, double with targets

ITV buys Talpa for EUR 500 mln cash, double with targets

UK broadcaster ITV has agreed to acquire Dutch TV production company Talpa Media for approximately EUR 500 million in cash from Big Brother creator John de Mol. Talpa is behind such hit formats as The Voice, Utopia, I Love My Country and Dating in the Dark. Over the last 6 years, Talpa has created 75 shows airing in more than 180 countries, with 16 new formats broadcast last year. Talpa’s focus on quality formats fits well with ITV Studios’ existing genre focus, and will add to ITV’s growing portfolio of international production companies, the broadcaster said. ITV said it will continue to build its international content business that creates and owns formats that sell internationally.

Talpa reported a EUR 233 million revenue and EUR 61 million EBITA in 2014. Following the transaction, De Mol and his senior team will keep playing a key role in future Talpa productions, working with ITV Studios managing director Kevin Lygo. ITV wil pay EUR 500 million for all of Talpa, plus future payments depending on performance. The maximum total consideration will be EUR 1.1 billion.

Article Source

Share and Enjoy

Leave a Reply

Your email address will not be published. Required fields are marked *