RNS Number : 1948L
06 January 2009
6 January 2009
ITV STUDIOS TAKES 25% STAKE IN
CARBON MEDIA LIMITED
ITV, through its production business ITV Studios Limited ('ITV Studios'), has taken a 25% equity stake in Carbon Media Limited ('Carbon'), the independent production company.
Under the terms of the deal, ITV Studios will invest £1.1m in Carbon for the issue to ITV Studios of new shares in Carbon representing 25% of Carbon's enlarged issued share capital. lTV Studios will also make a development facility of £150,000 available to Carbon for a five year period.
The investment represents further progress in ITV's strategy for content-led growth, through production of high value formats with strong secondary sales potential.
About Carbon Media Ltd
Carbon is an independent production company, founded in 2004 by Mike Christie and Mike Smith, which focuses on specialist factual television. Steven Wright recently joined Carbon as joint creative director.
About ITV Studios and ITV Global Content
ITV Global Content is ITV plc's content division, bringing together all of ITV's UK and international production and distribution businesses, including ITV Studios, the group's UK production business.
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For further enquiries please contact:
Tel: 020 7156 6000
Christy Swords - Director of Investor Relations
Pippa Strong - Head of Investor Relations
Caroline Heap - Global Content Press Office
Tulchan Communications (PR Advisers to ITV plc)
Tel: 0207 353 4200
Website: www.itv.com; investor information: www.itvplc.com
This information is provided by RNS
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