Duo strike deal worth $38 million
U.K. drama specialist Shed Prods. will acquire factual entertainment producer Twenty Twenty Prods. in a deal worth some £19 million ($38 million) as the independent TV production sector continues to consolidate.Combo’s name will be Shed Media. Shed is best known for its female-skewed hits “Footballers’ Wives” and “Bad Girls,” and it is soon to bow talent-show skein “Rock Rivals,” made with Simon Cowell. Shingle said Twenty Twenty has “a proven track record in inventing new, returnable formats,” such as “Bad Lads Army,” and asserted that as a result of the deal, this kind of fare could be better exploited in the U.S. Shed is forking out an initial $36 million plus $2 million linked to Twenty Twenty’s performance. Twenty Twenty managing director Peter Casely-Hayford will join Shed’s board as an executive director. Shed acquired Ricochet — maker of “Supernanny” — for $50 million in November 2005 and subsequently bought distributor Screentime Partners, now known as Outright Distribution.