The prodco was originally set up as subsidiary of ITV franchise holder Central Television and ITV bought and sold Zenith twice.
Along with its music subsidiary Blaze Television, it made drama series including The Paradise Club, Hamish MacBeth and Bodyguards, and iconic kids series Byker Grove.
It fell on hard times after Byker Grove and music series CD:UK were cancelled.
Simply Media is owned by Mike Luckwell Venture Capital.
Luckwell (pictured), at one point the largest shareholder in another ITV franchise holder, Carlton, said: “The changing pattern of viewing habits and the move to digital makes the acquisition of a broad spectrum of rights a key factor in maintaining growth”.
Simply said it plans to pick up more content post-Zenith. Gary Hopkins, the Group CEO, said: “We have made a substantial investment in Rights and will continue to do so. I am delighted that the Zenith deal has come to fruition and have in my sights a series of complementary acquisitions”.