Shine Group has acquired Metronome, the largest producer in the Nordic region, in a SEK719 million (US$88 million) deal. Shine, which is run by Lis Murdoch, has bought the company from Nordic media company Schibsted.
The deal was financed with debt and private investment and gives Shine control of the fifteen production companies that comprise Metronome.
Senior management including CEO Mats Alders and COO Michael Porseryd will remain at Metronome and each of its production companies will retain its individual identity.
“It has always been my intention to expand the existing Shine Group companies with the finest creative and entrepreneurial minds from the key markets we have identified, and each Metronome company more than meets this criteria,” said Shine Group CEO and chairman, Elisabeth Murdoch. “Their addition gives us an unrivalled presence in a market with a well-earned reputation as the birthplace of so many successful international formats.”
Having announced the launch of new divisions in Germany and Australia this year, the Metronome deal marks Shine’s first foray into the Nordic region.
The Metronome companies: Meter Film and Television, Stockholm-Köpenhamn, Metronome Productions, Metronome Film and Television Oy, Metronome Spartacus AS, Metronome LLC, Rubicon TV, Metrix Interactive AB and Filmlance International, Studios Mekaniken, Studios A/S, Studios AS, Friday TV, Schulmangruppen and Metronome Digital Media.