ITV will pay an initial sum of around £12.5 million ($19.3 milllion), depending on Big Talk’s financial perf. Further payments will be made linked to profit over the next five years.
ITV’s international distribution and production arm, ITV Studios Global Entertainment, will distribute all Big Talk’s new TV shows, and help the company grow its global biz, particularly in North America. BBC Worldwide retains global distribution rights to Big Talk’s back catalog and U.K. series based on those shows.
“Building a strong international content business lies at the very heart of our Transformation Plan and the acquisition of Big Talk represents another important milestone as we continue to grow our production base and invest in creative talent,” ITV chief executive Adam Crozier said.