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108 Media acquires DCD Media in $6.3 million deal

London-headquartered production and financing studio 108 Media has finalized its acquisition of UK-based superindie DCD Media, in a deal worth £4.7 million, or US$6.3 million. The deal, which was conditionally agreed ...
December 13, 2021

London-headquartered production and financing studio 108 Media has finalized its acquisition of UK-based superindie DCD Media, in a deal worth £4.7 million, or US$6.3 million.

The deal, which was conditionally agreed upon in November, comprises all DCD Media Plc assets, which include the prodcos September Films and RIZE USA, as well as distributor DCD Rights, which boasts a catalog of more than 3,500 hours of programming across drama, entertainment, factual and music titles.

DCD Rights will continue to operate as an independent distributor and will continue to grow its roster. Among its factual and unscripted titles are Aussie Gold Hunters, the Bettany Hughes Treasures franchise, and Penn & Teller: Fool Us and Bridezillas (pictured) from September Films.

According to a statement from 108 Media CEO Abhi Rastogi, the deal marks “just the start of our very exciting structural expansion of being first-tier coproduction specialists and adds to our vision of building a modern multi-faceted media company operating proudly at the nexus of the creative and corporate worlds.

“Having our fully integrated cross-border and cross-cultural studio system already in place, the acquisition of DCD means we now have an impressive catalog of content, additional production capabilities and a massive global distribution pipeline sharing our dynamic content,” he added.

“We are genuinely excited by this next step in our evolution,” said DCD Rights founder and CEO, Nicky Davies Williams. “Our high-quality library has never been in greater demand, and the new productions which we are coproducing and acquiring continue to be very attractive to established international broadcasters and global platforms.”

The deal came into play when DCD’s previous major shareholder, media holding company Timeweave, stated it was pulling any further funding. When plans for the sale were first unveiled, DCD Media issued a statement saying in part: “There were broad synergies with other media interests within the Timeweave investment group. Those synergies no longer exist and DCD Media does not form part of the strategic landscape for Timeweave. In addition, Timeweave has indicated that it does not wish to provide further TV program funding to DCD Media.”

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