British indie targets U.S. producers
LONDON — Ten Alps, the acquisitions-hungry British independent backed by rock star and antipoverty campaigner Bob Geldof, is targeting U.S. production companies in its expansion plans.
Announcing annual results that saw earnings jump 21.5% to £42.21 million ($44 million), Ten Alps topper Alex Connock said he hoped to announce more takeovers before Christmas.
“We are not targeting U.K. producers, as we think they are overpriced,” he said. “We are looking at American production companies and small publishing companies.”
Ten Alps’ assets include production outfits 3BM TV, Blakeway, Brook Lapping and HDTV. The group, listed on London’s Alternative Investment Market, will make opening a U.S. office a high priority for next year.
Ten Alps has a 70% stake in U.K. digital channel Teachers’ TV. It makes “Top Dog” for Animal Planet, run jointly by Discovery and the BBC.