ITV Acquires Stake in U.S. Outfit Thinkfactory

LONDON: ITV plc is picking up a 65-percent interest in Thinkfactory Media, the American production company whose credits include HISTORY’s hit mini-series Hatfields & McCoys, for $30 million, with an option to take full ownership of the outfit.

The put-and-call option for the remaining 35 percent could be exercised between three years after the initial deal and at the end of year five. The amount paid would be connected to the performance of the company over that period.

Thinkfactory joins a U.S. production portfolio at ITV that already includes Gurney Productions and High Noon Entertainment, as well as ITV Studios America. Founded in 1992 by Leslie Greif, it is behind a broad range of scripted and unscripted fare, including R&B Divas, Preachers’ Daughters, Marriage Bootcamp and Texas Rangers.

“We’re gathering real momentum in building a substantial U.S. presence, which is central to our strategy of creating a strong international content business," said Adam Crozier, ITV plc’s chief executive. "The acquisition of Thinkfactory Media is clearly a further significant step forward in achieving that goal. Over the last two decades Leslie and his team have established a terrific reputation as a producer of great programs across a range of genres and I’m delighted to welcome them to ITV Studios’ growing international family.”
 
Paul Buccieri, managing director of ITV Studios International and president and CEO of ITV Studios America, added, "Through Leslie’s vision and expert leadership Thinkfactory Media has become one of the most admired producers in the industry. Leslie can effortlessly flow between producing scripted and reality shows—a skill increasingly admired by cable TV buyers. I am very excited to be working with Leslie and the whole Thinkfactory Media team as they continue their growth."
 
Greif, CEO of Thinkfactory Media, said of the transaction, "While retaining the independent spirit that keeps Thinkfactory Media creative, this relationship not only allows us to continue producing top-quality scripted and unscripted content, but enhances the potential for global distribution and our continued success in the marketplace.”