the world digest
LONDON — BSkyB said Monday it has upped its stake in Elisabeth Murdoch's production company Shine from 2.9% to 11.3%, but declined comment on how much the deal was worth. Shine, which is poised to complete the acquisition of "Ugly Betty" producer Reveille Prods. and last year acquired "Spooks" creator Kudos Film & TV, is now the fourth-largest independent production company in the U.K. Sony retains a 15% stake in the business, while private equity operator 3i also holds a minority stake.
PARIS — More than 70,000 cinephiles and industry professionals came out for the second annual Paris Cinema Fair, a behind-the-scenes exploration of the big screen, which wrapped Sunday night in the French capital. Last year's inaugural event drew 50,000 visitors. Presided over by helmer Jean-Jacques Annaud and inaugurated by French cultural minister Christine Albanel, the Salon du Cinema invaded Paris' trade hall the Porte de Versailles for three days of cinema master classes, screenings, trailers, homages and encounters between the public and their favorite directors and talent.
MADRID — British-based private equity group 3i has purchased a 40% stake in Spanish independent television production company Boomerang TV for €36.4 million ($52.6 million), which will help fund the producer's expansion plans, the companies said Monday. The deal was structured through a combination of share purchases and a capital increase, according to a statement released by 3i and Madrid-based Boomerang. The cash injection is expected to triple the size of the company over the next five years.