DCD Media-owned Scottish prodco Matchlight Media, best known for BBC3′s Russell Brand: From Addiction To Recovery (pictured), is in the process of a management buyout.
The buyers are Glasgow-based Matchlight’s current management team: Ross Wilson, creative director; company MD David Smith and Jacqui Hayden, development director, with Wilson retaining a 48% ownership share while Smith and Hayden receive 26% each.
In a stock market announcement, DCD Media said the sale’s completion, for an undisclosed amount, is subject to numerous conditions. DCD maintains that it will retain a long-term option over the distribution of Matchlight shows once the sale is closed.
DCD Media may have chosen to unload Matchlight in light of the cancellation of its Bridezillas series by U.S. network We TV in 2013. In June, DCD announced it was focusing on its distribution business following the revelation that revenue had fallen by US$3.35 million last year.