Warner Bros buying £99.9 million Shed

Hollywood studio Warner Bros is acquiring Shed Media in a deal that values the UK indie producer at £99.9 million.

The UK firm has itself acquired and several other indie brands in recent years including Ricochet and Wall to Wall. It also has its own programme sales arm, Outright Distribution.

Its key programming franchises include Supernanny and Who Do You Think You Are?

The cash offer from Warner Bros represents almost a 40% premium on Shed’s closing share price. Shed management said 73% of shareholders had indicated they would accept the offer.

“The UK is an important television market, with a robust, thriving local production sector,” said Ronald Goes, head of International TV Production for Warner Bros.

“The acquisition of Shed provides Warner Bros. Television Group with immediate scale in UK production and complements our existing television production and distribution businesses.”