The deal sees another change in ownership at the Amsterdam-based prodco, after it was acquired by Sony Pictures Television in 2008 before being sold back to a management and private equity team.
Tuvaulu founders Taco Zimmerman and Douwe van der Werf will retain a minority stake in Tuvalu under the new structure.
TF1 Group-owned Newen is on an expansion drive, and has the stated objective of being a leading production and distribution group in Europe.
The company said that by joining forces with Newen, Tuvalu will be able to accelerate its own growth plans and benefit from Newen’s experience in scripted.
Tuvalu currently specialises in factual, reality and entertainment shows, and makes teen-themed scripted series The First Years, My New Home, and the Dutch version of BBC format Maestro.
“Acquiring a majority equity stake in Tuvalu will allow Newen to complete its geographical footprint, alongside Newen Network, in a very creative market,” said Tanguy de Franclieu, managing director of Newen Studios.
“We are very happy to implement this strategic alliance with Tuvalu founders who share with us a common entrepreneurial DNA and a strong focus on original quality creation.”
Zimmerman, CEO of Tuvalu, said: “The new partnership will strengthen the position of Tuvalu, both in our domestic market as internationally. We expect with Newen to boost Tuvalu as an international, creative content hub, both on the format side as well as on the scripted market.”
Sony bought Tuvalu in 2008 before Zimmerman and management teamed with Karmijn Kapitaal to by it back five years later. At that point Roel Kooi, one of the co-founders, exited.
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20 June 2018 @ 12:15:00 UTC