Global multi-platform media company Future has acquired a 100% stake in Sam Barcroft‘s London-based indie production house Barcroft Studios in a deal worth US$30.3 million (£23.5 million) in cash and shares.
Under terms of the deal, Barcroft Studios will develop and produce original series and video content for Future’s portfolio of 180-plus media brands, including TechRadar, PC Gamer, MusicRadar, Space.com, Android Central, Real Homes and Total Film.
Barcroft Studios CEO Sam Barcroft will continue to oversee the daily operations of the studio he launched in 2003 alongside chief operating officer Caspar Norman and chief creative officer Alex Morris.
The British production outfit, originally founded as Barcroft Media and rebranded earlier this year, produces premium original factual video content for VOD platforms, TV networks and consumer brands has pioneered a unique digital-to-TV incubation approach. The company’s recent productions include Netflix’s Amazing Interiors (pictured), BBC2′s The Day the Dinosaurs Died and Facebook Watch’s Most Incredible Homes.
The sale process is expected to be completed by the end of November and comes three years after Channel 4 acquired a minority stake in Barcroft Media via its Indie Growth Fund and sees the broadcaster exit from the business.
Barcroft Studios was advised in the sale process by teams led by Chris Graves at Deloitte LLP and Ken Wilkinson for Osborne Clarke LLP.
“Future’s stable of media brands is rapidly evolving across digital, e-commerce and events. Combining this with our expertise in the creation and distribution of amazing TV and video is an exciting proposition, enabling us to supersize our offering to broadcast, VOD and social media partners,” said Barcroft in a statement. “We also can’t wait to collaborate with Future’s world class editorial teams, launching some of publishing’s most iconic media IP into TV and digital video.”
“Barcroft Studios are innovative TV and digital video producers who understand how to build communities at scale around content,” added Zillah Byng-Thorne, chief executive of Future. “With this acquisition we see a fantastic opportunity to further innovate across our diverse media portfolio. The opportunity to bring Barcroft Studios’ own IP, huge audiences and their team’s production expertise alongside our fantastic editorial content and brands, leveraging them into TV and video is an exciting step forward.”