Glasgow-headquartered TV prodco STV Productions has acquired a majority stake in London-based unscripted studio Primal Media.
The acquisition follows the announcement earlier this year of a strategic partnership between STV and Primal to co-develop formats for UK and international networks.
The majority stake will allow STV to capitalize on Primal’s current and future programming slate, including new programs already in production at Channel 4.
Primal Media’s format credits include Release the Hounds for ITV2, Bigheads for ITV and Carnage for Sky One.
Lionsgate, the previous majority investor in Primal Media, will retain a minority stake in the business, with Wood and Steiner holding the remaining equity.
“I am delighted to forge a closer relationship with Primal Media, which complements the strong track record in entertainment we have thanks to the work of [STV Studios head of entertainment] Gary Chippington and his team,” said David Mortimer (pictured), managing director of STV productions, in a statement. “I’ve known Adam and Mat for many years and have always thought of them as two of the UK’s most talented entertainment producers.”
“When we started talking to David about a regional partnership earlier this year, it quickly became apparent that our goals and strategies for growing Primal were very closely aligned,” added Primal co-founder and joint managing director Wood. “We are delighted that this relationship has rapidly developed and now look forward to creating new hit shows.”