Shed goes half way to annual target

Production revenue at 54% of year's goal

LONDON — Shed Media, the U.K. shingle behind “Supernanny,” has already secured more than half of its revenue target for TV production this year.

“Although it is still early in the current financial year and market conditions remain challenging, visibility is good with 54% of group production revenue target commissioned and 30% of group IP (intellectual property) revenue secured,” the company said in a trading update.

Licensing rights is handled by Shed subsidiary Outright Distribution.

It added that results for the 12 months to Dec. 31 were in line with market expectations.

During 2009, Shed said it delivered 246 hours of programming, comprising 38 hours of drama and 208 hours of factual content.

U.S. production accounted for 39% of this output, with the U.K. responsible for 61% .

The shingle has high hopes for celebrity genealogy show, “Who Do You Think You Are?,” a big hit in Blighty and due to bow on NBC in the U.S. next month.

Shed said it was still in discussions with the London-based private equity groups Bowmark Capital and Darwin Private Equity over a management-led takeover.

Details of the buyout emerged in December.