ITV has announced that it has acquired a controlling stake in DiGa Vision, the New York based independent producer of reality and scripted programming including Teen Wolf.
ITV will make an upfront cash payment for a 51% stake in DiGa Vision with a put and call option to buy the remainder of the company. The put and call option could be exercised from between 3 and 6 years, with the total amount paid linked to the performance of the company over that period. The multiple paid is similar to the range paid on ITV's previous acquisitions.
In the official statement ITV said that “the acquisition represents another step forward in ITV's strategy of building a strong international content business” and that it “is an important addition to the Group's growing portfolio of production companies on both sides of the Atlantic”. The DiGa aquisition follows ITV's acquisition in the last 18 months of Gurney Productions, High Noon Entertainment and Thinkfactory Media in the US as well as UK producers The Garden and Big Talk.
DTG Staff | 19.02.2014