ITV has acquired the director of wildlife documentaries for “Enemy Planet” and “Night on Earth” for 131 million pounds
ITV grabbed the production company Hostile Planet and Night On Earth in the deal, valuing it at £ 131 million.
Coronation Street and Love Island will pay £ 103.5 million for a 79.5 per cent stake in Bristol-based Plimsoll.
The takeover is ITV’s latest step in expanding its content before launching its ITVX streaming service later this year.
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ITV praised the deal as an “additional milestone” in its transition to content production as it looks competitive with US giants Netflix, Disney + and Amazon.
Promotions rose 1.7 per cent, or 1.14 points, to 68.52 points ITVX will launch in the last three months of the year with 15,000 hours of content and a budget of £ 160 million.
It will be funded by a mix of subscriptions and advertising revenue.
Plimsoll will join ITV’s in-house studios, as well as the 12 Yard, Apple tree and South Shore production houses that make Hairy Bikers.
Plimsoll content is broadcast in nearly 200 countries and includes Tiny World and Giant World on Apple + and A Year On Planet Earth on ITV.
Last September, sales were £ 35 million and profits were £ 10 million.
It was owned by private equity firm LDC, founder Grant Mansfield and other shareholders.
Mansfield will remain the CEO and retain his management team and creativity.
ITV boss Carolyn McCall said the takeover would allow the channel to take advantage of growing demand for science and factual programs.
ITV buys Plimsoll wildlife director for £ 131m deal
Source link ITV buys Plimsoll wildlife director for £ 131m deal