American mass media conglomerate Hearst has secured a majority interest in Charleston, South Carolina-based scripted and unscripted producer-distributor Litton Entertainment.
Financial details of the deal, which is expected to close Feb. 1, were not disclosed.
Litton Entertainment produces more than 800 hours of family-skewing scripted and unscripted content for broadcast and station groups annually, including CBS’ Dr. Chris Pet Vet (pictured) and NBC’s Give. Headquartered in Charleston, the firm has offices in New York, Boston and Burbank, California.
The deal mark’s Litton founder, president and CEO Dave Morgan‘s return to Hearst, who began his career at the New York-based media giant.
Richard Gray at ACF Investment Bank served as lead financial advisor to Litton Entertainment.
“Providing quality, family friendly programming to viewers is an important tenet of Hearst Television and adding Litton’s assets and expertise to our company through this partnership will be a terrific complement to our business,” said Hearst Television president Jordan Wertlieb in a statement.