TV

TWC selling television division to ITV: reports

According to various reports out of the U.S., The Weinstein Company is close to selling its television unit, which produces such series as Project Runway among others, to ITV for a sum that could potentially reach $950 million. (Pictured: Harvey Weinstein)
April 7, 2015

According to various reports out of the U.S., The Weinstein Company is close to selling its television unit, which produces such series as Project Runway among others, to ITV for a sum that could potentially reach US$950 million.

According to the Hollywood Reporter, sources say the deal would include an up-front payment of between $300 million and $400 million, with a compensation and bonuses package delivered over time that would triple the initial price tag. Meanwhile, the New York Times reports that TWC co-chairmen Harvey Weinstein (pictured) and brother Bob Weinstein would continue to oversee the division.

TWC’s television division has several unscripted programs in its roster, including Project Runway, coproduced with Bunim/Murray Productions and Full Picture Entertainment, and Mob Wives, produced with Electus and Left/Right. It’s also behind the epic drama series Marco Polo, which will be entering its second season for Netflix.

An ITV spokesperson told realscreen that the company “does not comment on speculation.”

The deal would be the latest in a string of acquisitions for the British media giant, following the recent acquisition of John de Mol’s Talpa Media for $531 million, and a flurry of other unscripted prodco acquisitions, including the purchase of Leftfield Entertainment for $360 million in May of last year.

About The Author
Managing editor with realscreen publication, an international print and online magazine that covers the non-fiction film and television industries. Darah is an award-winning journalist who has spent over two decades covering a wide range of issues from real estate and urban development to immigration, politics and human rights, primarily with The Vancouver Sun. Prior to joining realscreen, she was editor of Stream Daily, realscreen's sister publication covering the dynamic global digital video industry. She also served a stint as a war reporter in Afghanistan for television and print, and was a national business blogger with Yahoo Canada.

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