Shed Media agrees to Time Warner takeover

Television producer Shed Media, the company behind Supernanny and New Tricks, yesterday agreed a £100m takeover by Hollywood media giant Time Warner.

Warner, which wants to establish a presence in the UK market through the deal, has been in talks with the company over the acquisition since May.

The deal will trigger big payouts for the four most senior bosses at Shed, who own 35 per cent of the business between them. They will be paid 50 per cent in cash for their stakes with the remaining 50 per cent invested in the new business through shares and loans.

Hide Ad
Hide Ad

Eileen Gallagher, who founded Shed Media in 1998, has a share of the business valued at 7.5m.

Ms Gallagher was previously managing director of London Weekend Television and deputy managing director of Granada Broadcasting.

Shed floated in 2005 and has taken over a number of production houses since the launch, now owning Ricochet, Wall To Wall, Twenty Twenty, as well as distribution company Outright Distribution.

Wall to Wall chief executive Alexander Graham and Ricochet boss Nicholas Powell have stakes worth around 12m each, while Shed chief executive Nick Southgate's share is worth almost 4m.

Hide Ad
Hide Ad

Shed's top bosses will stay with the firm. The business has 477 staff in the UK and the United States, with offices in London, Brighton and Glasgow.

The production firm's best-known programme was Footballers' Wives, which ran on ITV until 2006 and thrust Zoe Lucker – who played scheming Tanya – into the national spotlight.

Since then the company has scored hits with other programmes including drama Waterloo Road and Who Do You Think You Are?.

Shed's independent chairman Heather Rabbatts said Warner "will provide the Shed Group with the platform from which to support and deliver its growth plans".

Warner added that the deal gave the firm "immediate scale in UK production and complements our existing television production and distribution business".

Related topics: