Kew Media Group to Acquire TCB Media Rights


Kew Media Group is acquiring the London-based distribution company TCB Media Rights, which specializes in non-scripted TV sales.

Kew will pay initial consideration on closing of £5.6 million ($7.4 million) in cash and £0.7 million ($923,000) in Class B shares of Kew Media. The company has also agreed to pay deferred compensation based on TCB’s adjusted EBITDA for the fiscal year ending December 31, 2017 that will cap the purchase price at no more than seven times adjusted EBITDA. TCB is expected to generate approximately £11.5 million ($15 million) in revenue and £1 million ($1.3 million) or higher of adjusted EBITDA for fiscal 2017.

“TCB is one of the world’s most prolific distributors of unscripted content,” said Kew Media’s CEO, Steven Silver. “The company Paul Heaney has built over the last five years adds decades’ worth of experience and expertise to our operation. TCB will continue to operate as it has been, since we intend to maintain the distributor’s boutique feel and producer-oriented focus, but now with increased resources for greater content development opportunities.”