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ITV acquires controlling stake in DiGa Vision
MUMBAI: UK media company ITV has acquired a controlling stake in DiGa Vision, the New York-based independent producer of reality and scripted programming including MTV’s ‘Teen Wolf’.
ITV will make an upfront cash payment for a 51 per cent stake in DiGa Vision with a put and call option to buy the remainder of the company.
The put and call option could be exercised from between 3 and 6 years, with the total amount paid linked to the performance of the company over that period.
The acquisition represents another step forward in ITV’s strategy of building a strong international content business and is an important addition to the Group’s growing portfolio of production companies on both sides of the Atlantic.
Since launching DiGa Vision in 2011, former MTV executives Tony DiSanto and Liz Gateley have successfully developed an impressive slate of original programming with 12 series given the green light.
Last year saw 36 episodes of new series including ‘Girl Get Your Mind Right’ and primetime drama ‘Ke$ha: Crazy Beautiful Life’ – both for MTV – with auction-based format Celebrity Home Raiders to air on Lifetime in March.
MTV also commissioned two more seasons of ‘Teen Wolf’, airing 24 episodes last year.
“We’re really excited to work with DiGa Vision and look forward to helping them grow and reach their full potential.”
Read Full Here
MUMBAI: UK media company ITV has acquired a controlling stake in DiGa Vision, the New York-based independent producer of reality and scripted programming including MTV’s ‘Teen Wolf’.
ITV will make an upfront cash payment for a 51 per cent stake in DiGa Vision with a put and call option to buy the remainder of the company.
The put and call option could be exercised from between 3 and 6 years, with the total amount paid linked to the performance of the company over that period.
The acquisition represents another step forward in ITV’s strategy of building a strong international content business and is an important addition to the Group’s growing portfolio of production companies on both sides of the Atlantic.
Since launching DiGa Vision in 2011, former MTV executives Tony DiSanto and Liz Gateley have successfully developed an impressive slate of original programming with 12 series given the green light.
Last year saw 36 episodes of new series including ‘Girl Get Your Mind Right’ and primetime drama ‘Ke$ha: Crazy Beautiful Life’ – both for MTV – with auction-based format Celebrity Home Raiders to air on Lifetime in March.
MTV also commissioned two more seasons of ‘Teen Wolf’, airing 24 episodes last year.
“We’re really excited to work with DiGa Vision and look forward to helping them grow and reach their full potential.”
Read Full Here
