LONDON — The U.K.’s leading commercial broadcaster ITV has acquired a controlling stake in DiGa Vision, the New York-based independent producer of reality and scripted programming, including “Teen Wolf.”
The acquisition reps another step forward in ITV’s strategy of building a strong international content business and is an major addition to the group’s growing portfolio of production companies on both sides of the Atlantic.
It follows ITV’s acquisition in the last 18 months of Gurney Productions, High Noon Entertainment and Thinkfactory Media in the U.S. as well as U.K. producers The Garden and Big Talk.
ITV will make an upfront cash payment for a 51% stake in DiGa Vision with a put and call option to buy the remainder of the company. The put and call option could be exercised from between three and six years, with the total amount paid linked to the performance of the company over that period.