Britain’s Granada TV has inked an agreement with Kerry Stokes’ Seven Network to provide the Aussie broadcaster with much of its local programming.
The deal will make Granada one of the largest single program suppliers Down Under, and is in keeping with the British broadcaster’s aim of producing more of its shows internationally.
The British company beat out at least two other bidders, fellow U.K. media player Pearson TV and Aussie producer/distribber Southern Star for the contract with Seven.
The new relationship between Granada and the Seven Network, which will be structured as a 50-50 joint venture, will be worth between $50 million and $60 million to Granada and will run initially for five years, according to a report in the Sydney Morning Herald.
The deal will be unveiled Thursday in Sydney during the Seven Network’s annual general meeting.
Granada has been targeting Australia for the last year or so, having bought local production company Artists Services last year.
The British producer has a similar presence in Los Angeles, where it has secured a toehold in the TV business by formatting British series for U.S. consumption (the now-canceled “Cold Feet” for NBC) and by producing original series like “Beggars and Choosers” for Showtime.