In yet another U.S. acquisition, Britain’s ITV is taking a controlling stake in reality, entertainment and drama producer Thinkfactory Media. Among the company’s credits are the award-winning miniseries Hatfields & McCoys. ITV will pay $30M for a 65% share of the company with a put and call option to buy the remaining 35%. The option could be exercised from between 3 years after the initial deal and at the end of year 5 with the total amount paid linked to the performance of the company over that period. Late last year, ITV acquired a controlling interest in Duck Dynasty producer Gurney Productions and in May it took a slice of Cake Boss maker High Noon Entertainment. Other recent acquisitions include UK production company The Garden. The takeovers are part of ITV’s five-year Transformation Plan.
LA-based Thinkfactory was founded in 1992 by Leslie Greif. Its portfolio includes R&B Divas, Preachers’ Daughters, Marriage Bootcamp and The Hook-Up as well as new drama series Texas Rangers for the History Channel.
ITV chief Adam Crozier says, “We’re gathering real momentum in building a substantial U.S. presence, which is central to our strategy of creating a strong international content business. The acquisition of Thinkfactory Media is clearly a further significant step forward in achieving that goal.”
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