09 May 2007
May 8, 2007
For immediate release
ITV PLC ACQUIRES CONTROLLING STAKE IN
JAFFE/BRAUNSTEIN ENTERTAINMENT LLC
ITV plc today announced that it has bought a controlling 51% stake in a new
entity, Jaffe/Braunstein Entertainment LLC, created in partnership with Jaffe
Braunstein Films LLC, a producer of scripted telefilms and mini-series based in
Los Angeles. The stake was acquired for a cash sum of $5.8 million (£2.9
million) from Howard Braunstein, and Michael Jaffe who, between them, will
retain a 49% stake in the new entity.
ITV plc's stake will be managed through Granada America, the U.S. based
production entity of ITV plc. In addition to developing and producing new
original programming, the new partnership will focus on remaking titles from the
extensive ITV film and television library.
David Gyngell, Chief Executive Officer of Granada America said: 'Jaffe/
Braunstein Films is the class leader in the long form production business with a
successful track record spanning more than two decades. Our investment into, and
partnership with, Howard and Michael means we can combine forces in what is an
already extremely competitive market. As part of our overall growth strategy,
this deal is a signal that Granada America is serious about building its
presence in scripted television in US.'
Notes to Editors:
Programming from Granada America that has been produced, aired or scheduled to
air in US totals more than 200 hours including movies for television, drama,
nature and non-scripted.
Howard Braunstein and Michael Jaffe
Mr. Jaffe and Mr. Braunstein are among the most prolific long form producers
over the past several decades. Their credits include Elvis, the Emmy nominated
mini-series and Golden Globe winner for Jonathan Rhys-Meyers as the rock-n-roll
legend; the 10.5 earthquake mini-series and its sequel; First Do No Harm
starring Meryl Streep; Ice Bound, starring Susan Sarandon; Rodgers &
Hammerstein's South Pacific, starring Glenn Close; as well as The Rosa Parks
Story, which won the NAACP Image Award for outstanding television movie or
dramatic special and which earned Angela Bassett an Emmy(R) nomination. Mr.
Jaffe and Mr. Braunstein also produced the A&E series 100 Centre Street,
starring Alan Arkin and executive-produced by Sidney Lumet, and Nero Wolfe,
starring Timothy Hutton.
For further enquiries please contact:
Tel: 020 7843 8000
Brigitte Trafford - Group Communications Director
Jim Godfrey - Director of Corporate Affairs
James Tibbitts - Company Secretary
Georgina Blackburn - Head of Investor Relations
Website: www.itv.com; investor information: www.itvplc.com
This information is provided by RNS
The company news service from the London Stock Exchange