Reed Smith Channels ITV's £131M Deal For PE-Backed TV Biz
By Dawood Fakhir (June 14, 2022, 1:10 PM BST) -- British television network ITV PLC said on Tuesday that it would acquire a majority stake in film production company Plimsoll Productions, giving the company a market value of £131 million ($158 million), including debt, from private equity firm LDC.
Plimsoll, which is based in Bristol, southwest England, is the largest independent producer of natural history programs including "Tiny World" and "Hostile Planet" and has won Oscars and BAFTA awards, ITV said in a statement.
The deal, scheduled to be closed on July 1, is expected to add to ITV's profits from day one, the network said.
Grant Mansfield, chief executive of Plimsoll,...
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