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.