U.K. Broadcaster ITV Buys Norwegian Production Firm Mediacircus
LONDON -- U.K. commercial broadcaster ITV has acquired Norwegian production company Mediacircus and joined forces with Israeli broadcaster Reshet to form a strategic development and production partnership.
Financial terms weren't disclosed.
ITV Studios managing director Kevin Lygo said creating "a strong international content business is key to the company’s five-year transformation plan" that was developed by CEO Adam Crozier and his team. "We are now beginning to build on our strengths with selective investments and partnerships at home and abroad."
ITV Studios has been a key financial growth engine for ITV as was evident in the broadcaster's latest financial report on Thursday.
Norway’s independent production company Mediacircus was founded by Eldar Nakken and Jon Sverre Hoiden in 2006 and is based in Bergen and Oslo. It will become part of ITV Studios Nordic, which has produced and co-produced more than 40 TV series in Sweden, Norway, Denmark and Finland.
Hans Engholm, CEO of ITV Studios Nordic, said: "With the acquisition of Mediacircus, ITV Studios Nordic takes a major step into the Norwegian market.”
An agreement has also been reached for a new venture that will see ITV Studios and Reshet jointly source, develop and produce formats in Israel for both the Reshet network and the international market.
Paul Buccieri, managing director ITV Studios International and president & CEO ITV Studios America, said that an important part of the transformation plan was also to increase the company’s distribution network in key program genres and territories.
“Israel has exploded on to the television market as a creative hothouse and has become a major exporter of wonderful shows which have entertained and engaged audiences not only in America but also across the world," he said.
Sharon Gelbaum-Shpan, who will head the venture’s Israeli office, said: "This innovative deal is the first of its kind in Israel. By marrying the creativity of our Reshet development team with the international expertise and reach of ITV Studios, we believe we are at the beginning of building a dynamic hub that will generate worldwide success."