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ITV will pay $30m for a 65% stake in Thinkfactory Media, with a put and call option to buy the remaining 35% of the company. The put and call option could be exercised from between 3 years after the initial deal and at the end of year 5 with the total amount paid linked to the performance of the company over that period.
The acquisition is a further significant step forward in ITV’s strategy of building a robust international content business, a key part of the Group’s Transformation Plan. Thinkfactory Media will join ITV’s growing family of production businesses in the US, including Gurney Productions and High Noon Entertainment, building on the strong organic growth already achieved by ITV Studios America.
Adam Crozier, Chief Executive of ITV plc, said:
“We’re gathering real momentum in building a substantial US presence, which is central to our strategy of creating a strong international content business. The acquisition of Thinkfactory Media is clearly a further significant step forward in achieving that goal. Over the last two decades Leslie and his team have established a terrific reputation as a producer of great programmes across a range of genres and I’m delighted to welcome them to ITV Studios’ growing international family.”
Paul Buccieri, Managing Director of ITV Studios International and President and CEO of ITV Studios America, said:
"Through Leslie's vision and expert leadership Thinkfactory Media has become one of the most admired producers in the industry. Leslie can effortlessly flow between producing scripted and reality shows - a skill increasingly admired by cable TV buyers. I am very excited to be working with Leslie and the whole Thinkfactory Media team as they continue their growth."
Leslie Greif, Chief Executive Officer of Thinkfactory Media, said:
"We are thrilled to team up with Paul Buccieri and ITV, one of the world's most respected names in television. While retaining the independent spirit that keeps Thinkfactory Media creative, this relationship not only allows us to continue producing top-quality scripted and unscripted content, but enhances the potential for global distribution and our continued success in the marketplace.”
LA-based Thinkfactory Media was founded in 1992 by seasoned Hollywood producer, Leslie Greif. Its portfolio includes reality and entertainment hits such as R&B Divas, Preachers’ Daughters, Marriage Bootcamp and The Hook-Up as well as a new drama series, Texas Rangers, for the History Channel, which also aired Hatfields & McCoys.