Shed Media, the UK producer which Time Warner wants for £100 million, has announced a 22% rise in first-half profits to £6.2 million ($4 million). Turnover was also up 27% in the first six months to £59 million. This broke down into £25.5 million from its UK production business, £26.2 million from U.S. production and £7.3 from programmes sales. Chairman Heather Rabbatts singled out the launch of the U.S. version of Who Do You Think You Are? and the continued success of Supernanny in the States as factors behind Shed Media U.S. growth. The Time Warner/Shed Media deal looks set for mid-October.
Shed Media Profits +22% Before TW Deal
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