Warner Bros completes Shed takeover

The takeover of UK independent Shed Media is complete, with US giant Warner Bros and members of Shed's management team buying the company in a deal that values it at nearly £100m. 

Warner Bros and the Shed senior management team have agreed terms with Shed's independent directors for a deal that will see them acquiring the UK indie. Under the terms of the takeover, Shed shareholders will receive 115p in cash for each share they hold, valuing the company at approximately £99.9m.

As part of the deal, several key employees from Outright Distribution, Shed's international sales arm, will be issued Time Warner shares and share options. The deal suggests the new company reached a deal to buy out Zodiak's 8 per cent minority stake in Shed. Among its production assets, Shed owns Wall to Wall Television, Ricochet and Twenty Twenty TV, and counts Supernanny, Who Do You Think You Are?, Man On Wire and Waterloo Road among its best-known titles.
 
Ronald Goes, Warner Bros head of international TV production, said: "The UK is an important television market, with a robust, thriving local production sector. The acquisition of Shed provides Warner Bros Television Group with immediate scale in UK production and complements our existing television production and distribution businesses."

"The Shed Group's successful existing and future scripted and non-scripted programming adds programmes and formats to our catalogue which can be leveraged internationally. The acquisition of Shed will provide Warner Bros Television Group with a solid foundation as we extend our local television production business to other major territories."

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