UK-based super indie Shed Media – which owns prodcos Shed Productions, Wall to Wall, Outright Distribution, Shed Media US, Shed Media Scotland, Ricochet and Twenty Twenty – has been acquired by Warner Bros Television Group, a unit of Time Warner, for an estimated £100 million (US$159 million). Time Warner now owns a 55.75% stake in the company, while Shed Media management owns 21.37%.
Shed investors will receive 115p for each share they hold, bringing the total value of the company to £99.9 million.
This news comes after Shed Media revealed that it had been in talks with Time Warner’s subsidiary, Warner Bros Entertainment, in June.
Through the deal, Time Warner establishes a presence in the UK and Shed Media now has a platform for growth in the U.S.
Warner Bros head of international TV production, Ronald Goes, said in a statement, ‘The UK is an important television market, with a robust, thriving local production sector. The acquisition of Shed provides Warner Bros Television Group with immediate scale in UK production and complements our existing television production and distribution businesses.’
Heather Rabbatts, independent chairman of Shed, said, ‘Warner Bros Television Group is a globally renowned entertainment business and will provide the Shed Group with the platform from which to support and deliver its growth plans.’