Zinc Media Group has received a cash injection of £5 million ($6.1 million), which will be used for the purchase of The Edge Picture Company.
The new investment, backed by all of Zinc’s current shareholders and a number of new large institutions, will accelerate its strategy of becoming one of the largest TV and content producers listed on the U.K. public market. It is adding to its portfolio The Edge, one of the largest brand and corporate filmmaking production companies in the U.K.
Zinc’s acquisition of The Edge has been facilitated by a £5 million ($6.1 million) City fund raised by Zinc, £2.1 million ($2.5 million) of which will form an initial consideration in the purchase. The funds were confirmed this morning and are subject to shareholder approval. The rest of the cash will be invested in talent, potential IP and in-future acquisitions and collaborations.
Mark Browning, CEO of Zinc Media Group, said: “The Edge is renowned for creating high-quality content for brands. Their business is built on trusted relationships and exceptional access. That’s why they are a perfect match for Zinc.
“The Edge is a truly impressive business—highly respected, sustainably profitable with a world-class reputation, and we are thrilled that it is joining the Group. The Edge will sit alongside Zinc Communicate, our branded entertainment, corporate film, publishing and audio business, and our award-winning TV businesses. This adds further scale to our group, enhancing our creative, commercial and cultural ambition. It will enable us to increase our branded content offering in the marketplace, both on a domestic and international level, and move into new content markets including animation, e-learning and education.”
Marjorie Blake-Convey, CEO of The Edge Picture Company, said, “Like Zinc, we are driven by a single focus: to produce inspiring films that tell clients’ stories in unforgettable ways. We also share the same cultural, creative and commercial values as Zinc, and that’s why this deal is so important to us.
“We have had over 30 years of success as an independent production business, and the time is now right to fuel The Edge’s long-term growth within the context of a larger content group, where we can benefit from creative and commercial scale and where we can make new investments in organic growth. Being part of Zinc offers this, and we are beyond excited to be joining the group.”
Browning added, “Our success is testament to our teams’ amazing work and to our strategy of continuing to invest in new talent, push into new markets and grow relationships with clients who demand the highest quality in factual storytelling. We’re definitely open to other key hires, acquisitions and strategic collaborations to help drive our continued growth and diversification in the factual content space. Our doors are well and truly open in that regard.”