RDF launches management buyout

Committee to evaluate the proposal

Execs at Brit indie shingle RDF, which made the hit show “Wife Swap,” are launching a management buyout as part of an unnamed consortium.

In a statement issued Thursday, the company sad that RDF Media’s independent directors, Richard Eyre, Tim Weller and Maggie Carver, “have received an indicative cash proposal to acquire the entire issued and to be issued share capital of the company from a consortium including RDF Media’s executive directors.”

The statement said an independent committee of the RDF Media board would evaluate the proposal.

It added that the approach is “at a very early stage, and there can be no certainty that an offer will be made.”

Shares in RDF, listed on London’s Alternative Investment Market, shot up 30% on the news to £1.26 ($2.40), valuing the company at about $104 million.

RDF ran into trouble last year due to the flawed editing of a promo for its Queen Elizabeth II documentary, which appeared to show her storming out of a photo shoot. The company’s stock had previously fallen some 60% due to the controversy.

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