Shed Media starts separate buyout talks
'Supernanny' producer ends talks with Bowmark, DarwinLONDON -- "Supernanny" producer Shed Media said Tuesday that it had ended buyout talks with private equity funds Bowmark Capital and Darwin Private Equity, but said it was still in talks with an undisclosed company over a possible deal.
Shed, which owns Ricochet Prods. and "Who Do You Think You Are?" creator Wall to Wall, had begun the talks in December, but said Tuesday that the discussions had been "terminated."
Earlier talks headed by former CEO and co-founder Eileen Gallagher also fell through last year, as the climate for leveraged buyouts became tougher and deals became more expensive to finance.
But the company said Tuesday that it is still in talks with an undisclosed party over a further deal possibility.
"The independent directors confirm that the company remains in an offer period having received a proposal from a potential offer, working with certain members of Shed management, which may or may not lead to an offer being made for the company," the company said.
Last year Shed Media appeared to buck the chill economic winds that blew through the broadcasting sector here, reporting pretax profits of £12 million ($17 million) and revenues up 13% at £93 million ($134 million).