Ramping up its strategy to build a broad international content business, Britain’s Sky has acquired a 70% stake in Love Productions. The UK-based maker of Great British Bake Off was founded in 2004 by Richard McKerrow and Anna Beattie. Love has production bases in London, Bristol, NY and LA. Its other credits include Great British Sewing Bee and factual programming Baby Borrowers, Famous Rich And Homeless and the controversial welfare documentary Benefits Street which caused a stir on Channel 4 earlier this year. The indie will continue to operate as a distinct company under its new ownership structure and will produce for all major UK broadcasters. McKerrow and Beattie will continue to run the company with the current senior management team. Sky’s international distribution business, Sky Vision, will become Love’s distribution partner, representing all new finished programs and formats. Sky already has development deals with U.S. and UK production companies including Ugly Brother Studios, back2back productions and Roughcut TV. The acquisition is a further step in the consolidation of the indie TV sector with such companies as ITV, Warner Bros, Red Arrow and Sony acquiring stakes in successful producers on both sides of the Atlantic. The move also highlights Sky’s push to increase its footprint across broadcasting, production and distribution. In May, Sky acknowledged speculation over its potential acquisition of 21st Century Fox’s interests in European pay-TV groups Sky Deutschland and Sky Italia. At the time, it said it had “initiated preliminary discussions with 21st Century Fox to evaluate the potential acquisition of its pay-TV assets in Germany and Italy. BSkyB believes at the right value, this combination would have the potential to create a world-class multinational pay-TV group.” Last week, Liberty Global bought BSkyB’s 6.4% stake in ITV for about $824M in what onlookers speculated could be an effort for Sky to raise funds for the merger with the German and Italian groups.
Sky Falls For ‘Great British Bake Off’ Maker Love Productions
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