ITV swoops for Big Talk
Editor | 26-07-2013
As it maintains its current programme of strategic acquisitions to boost revenue from content sales, ITV plc has acquired 100% of Big Talk Productions and associated companies.
Big Talk is the producer of award winning hit programmes in the UK such as Friday Night Dinner, Him & Her and Rev and the producer of films including Shaun of the Dead, Hot Fuzz and The World’s End. Indeed Simon Pegg, Nick Frost and Edgar Wright who starred in and/or wrote the latter have minority stakes in the business.
Under the terms of the deal ITV will pay an initial cash consideration and further capped cash payments contingent on Big Talk’s future performance. The initial cash consideration will be dependent on the 2012/13 financial performance and which is expected to be in the region of £12.5 million. The further capped cash payments are payable on the delivery of significant profit growth over the next five years.
ITV commented that such a multiple paid is similar to the range paid on its previous acquisitions. These have included The Garden in the UK and High Noon Entertainment in the US.