ITV Plc To Acquire Boom Supervisory Limited From LDC And Twofour - Quick Facts

(RTTNews) - ITV plc (ITV.L) announced that it has agreed to acquire Boom Supervisory Limited, the holding company of the Twofour Group. ITV, which acquires Twofour from majority shareholder LDC, the private equity arm of Lloyds Banking Group, will pay an initial cash consideration of 55 million pounds for 75% of the Group. There is a put and call option for the remaining 25% that can be exercised at the end of 2017 and between the end of 2019 and 2021.

The Group said the acquisition, which will be earnings enhancing from day one, supports ITV Studios' growth internationally by increasing its exposure to factual entertainment formats and drama and bringing new creative talent to ITV.

Twofour is a fast growing group of companies that produced over 1,200 hours of programming in 2014. The group's production labels, based in the UK and US, include Twofour, Twofour America, Boomerang, Oxford Scientific Films, Indus, Boom Cymru and the scripted producer Delightful Industries.