ITV buys Talpa in 55 million deal

Following reports last week, ITV has this morning confirmed it is to acquire Talpa Media, entertainment producer behind successful formats including The Voice, Dating in the Dark and Utopia (pictured). Talpa has created 75 shows airing in more than 180 countries, with 16 new formats broadcast last year. For ITV, the acquisition marks a further milestone in the company's strategy of building an international content business that creates and owns entertainment formats and dramas that sell internationally.'

ITV will pay an initial cash consideration of 500 million (approximately £355 million), with further payments dependent on Talpa's future performance. The total maximum consideration, including the initial payment, is up to 1.1 billion (approximately £781 million). The deal is expected to close during the second quarter of 2015.

Talpa was established in 2005 by John de Mol - creator of worldwide hit Big Brother, and has performed well financially and operationally since. In the financial year to 31 December 2014, the company generated 233 million revenue from productions, format fees and new revenue sources, delivering 61 million EBITA.

Following the acquisition, de Mol, together with his senior management and creatives, will continue to play a role in format creation and development, working exclusively for Talpa alongside ITV Studios managing director Kevin Lygo and his team.

De Mol said that the acquisition represents a fantastic opportunity for strong further growth. It also enables me personally to concentrate and focus even more on creating new, groundbreaking content.

ITV chief executive Adam Crozier, added: Great content is at the heart of ITV's growth strategy and the acquisition of Talpa builds on the success of our international content business and is absolutely in line with our desire to create and own formats that travel.

One of Talpa's most successful formats to date is The Voice, originally premiering in Holland in 2010, followed by broadcast in 180 countries - including on ITV in the UK and the US, where the eighth series recently attracted almost 14 million viewers.

www.itv.com

www.talpa.tv

LINK:	http://www.tvbeurope.com/itv-buys-talpa-355-million-deal/...
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