Deal ends the long-running saga to sell company
Shed management will hold 21.37% and the rest of the equity will be owned by other key staff.
It emerged in June that Warners was kicking the tires at the production company, which owns a number of shingles including Wall to Wall, Ricochet and Twenty Twenty.
The deal ends the long-running saga to sell Shed, which included numerous failed attempted buy-outs by management and private equity firms.
Ronald Goes, Warner Bros. head of international TV production, called the U.K. an important TV market. “The acquisition of Shed provides Warner Bros. Television Group with immediate scale in U.K. production and complements our existing television production and distribution businesses,” he said.
Earlier this year, studio hired Andrew Zein, former managing director of Blighty’s Tiger Aspect, with a brief to buy local production houses, mirroring NBC U and Sony’s strategy in the country.
Shed CEO Nick Southgate said, “In Warner Bros. Television Group we have found the right partner to support Shed’s development and future growth. It has an unrivalled reputation both creatively and in international distribution.”
In January, Warner Bros. became the only Hollywood major to have a base in Europe when it announced plans to buy and transform Leavesden Studios, 20 miles north of London, where it films the “Harry Potter” franchise.