Business
ITV acquires High Noon
ITV acquires High Noon.
About this update from Itv Plc
[{"type":"text","content":"\n \nRNS Number : 4955E ITV PLC 13 May 2013 \n \n\n13 May 2013\n \nITV ACQUIRES US INDIE HIGH NOON ENTERTAINMENT\n \nITV plc today announced that it is acquiring a controlling stake in High Noon Entertainment a leading supplier of reality and entertainment shows for US cable networks.\n \nITV will pay $25.65m upfront for a 60% stake in High Noon Entertainment with a top-up payment in 2015 based on the performance of the Company. There is a put and call option to buy the remainder of High Noon Entertainment which may be exercised after four and six years from the initial deal. The company made an operating profit of $5.7m in 2012 and generated around 80% of its production revenue from returning series.\nFor further enquiries please contact: \nInvestor Relations\nPippa Foulds 020 7157 6555 or 07778 031097\nMedia Relations\nMary Fagan 020 7157 3965 or 07736 786448\nMike Large 020 7157 3021 or 07768 261528\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQEAKSEFANDEFF\n ","length":2310,"tagName":"div"}]