Discovery Of Witches and HBO/ BBC’s Industry. For the US studio, Bad Wolf adds to its stable of high- quality drama producers including Eleven Film and Left Bank that can help it meet demand for scripted content. The same month, BBC Studios upped its 25% stake in Sherwood producer House Productions to take full ownership of the London- based production company that was launched in 2016 by the former head of Film 4 Tessa Ross and Working Title TV boss Juliette Howell.
Also in December, indie group DCD Media – which includes September Films, RIZE USA and DCD Rights - was bought by Singapore financing and production studio, 108 Media, in a deal worth £4.7m.
More recently, UK factual group Zinc Media acquired branded content specialist The Edge Picture Company. Zinc’s acquisition of The Edge has been facilitated by a £5m City fund raise, £2.1m of which will form an initial consideration in the purchase. The UK dealmaking echoes what is happening around the world. In July, former Fox chief Peter Chernin’s global content studio The North Road Company paid $200m for Red Arrow’s U.S. companies including Kinetic Content, Left/Right and 44 Blue Productions.
Candle Media, the new media company headed by former Disney
execs Kevin Mayer and Tom Staggs, and backed by private equity firm Blackstone, has also made a raft of acquisitions. Since launching last year, the
company has acquired kids content company and CoComelon owner Moonbug for $3 billion, Fauda maker Faraway Road Productions, and Reese Witherspoon’s Hello Sunshine for around $900 million. This year, it also took a more than 10% stake in Will Smith and Jada Pinkett Smith’s media company, Westbrook. Late last year, South Korean production giant CJ Entertainment — the company behind Parasite — acquired an 80 percent stake of the scripted business of Endeavor Content for $775 million. On a bigger scale still, Warner Bros and Discovery closed their $43 billion merger in April, while Amazon closed its $8.5 billion acquisition of MGM in May. The reason for the continued spate of dealmaking in the production sector is the same has it has been for several years now: the reshaping of the industry by the streamers.
A super new world “It’s all about the increasing demand for content, and that is principally being driven by the streamers,” says Tom Manwaring, partner at Helion Partners, which has advised on many recent UK M&A deals including the sale of Element Pictures to Fremantle
Autumn 2022 P18
televisual.com
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